Total Surplus Can Be Increased By

question 80

Multiple Choice

Total surplus can be increased by:

• A) policies that help people do business more efficiently.
• B) technologies that help people share more and better information.
• C) increasing the availability of accurate information.
• D) All of these can increase total surplus.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony in decision-making results in an irrational or dysfunctional outcome.

Cohesive Group

A group characterized by a strong sense of unity and togetherness, often leading to more effective teamwork.

Risky Course

A decision or path chosen that involves a higher potential for negative outcomes or loss.

Self-Managed Teams

Groups that operate without direct supervision, often responsible for setting their own goals and managing their own processes.