Members May Be Reluctant to Speak Up in a Group

question 13

True/False

Members may be reluctant to speak up in a group for a variety of reasons,including lack of trust of the leader or other members.​

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Definitions:

Optimal Strategy

Strategy that maximizes a player’s expected payoff.

Auctioned

A method of sale where goods or services are sold to the highest bidder.

Highest Bidder

The individual or party that offers the most money for an item in an auction or competitive bidding situation.

Consumer Surplus

Difference between what a consumer is willing to pay for a good and the amount actually paid.