As the Need for Cognitive Closure Increases

question 65

Multiple Choice

As the need for cognitive closure increases:

• A)people consider more alternatives.
• B)people consider larger amounts of information about each individual alternative.
• C)people make snap or quick conclusions.
• D)people become more sensitive to inconsistent evidence.
• E)people exhibit lower levels of confidence with their decision.

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Definitions:

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for slight control over prices.

Product Variety

Product variety refers to the assortment or range of different products or services that a company offers to cater to diverse customer preferences.

Productive Inefficiency

A situation where resources are not used in the best possible way, leading to higher costs or wasted resources in the production of goods and services.

Monopolistically Competitive

A market structure in which many firms sell products that are similar but not identical, and each has some control over its price.