A Person Arrived at a Company Party Dressed in a Bunny

question 1

Multiple Choice

A person arrived at a company party dressed in a bunny costume only to discover that the party was not a costume party and he had been tricked by a co-worker. Everyone from then on saw him as crazy and eccentric and eventually he came to think of himself in this way too. The initial mistake at the party is an example of

• A) a stigma.
• B) primary deviance.
• C) a self-fulfilling prophecy.
• D) tertiary deviation.

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Definitions:

Monopoly

A market structure characterized by a single seller who has exclusive control over the supply of a good or service, and where entry of new competitors is obstructed.

Perfect Competitor

An idealized market structure characterized by a large number of small firms, each being a price taker, with no single firm able to influence the market price.

Long Run

A period in economics where all factors of production and costs are variable, allowing complete industry adjustment.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.