Figure 8.14 -Where It Wants to Produce, the Firm in Figure 8.14

question 89

Multiple Choice

Figure 8.14
-Where it wants to produce, the firm in Figure 8.14 would be

• A) making a zero economic profit.
• B) losing money.
• C) making a positive economic profit.
• D) breaking even.

---

Definitions:

Social Categorisation

The process by which individuals classify others into groups based on shared characteristics.

Social Creativity

Group-based behavioural strategies that improve social identity but do not directly attack the dominant group’s position.

Social Change

The transformation over time of cultural values, norms, and social structures, leading to significant shifts in society.

Social Competition

Group-based behavioural strategies that improve social identity by directly confronting the dominant group’s position in society.