Ingroup Members Display the Outgroup Homogeneity Effect Because

question 30

Multiple Choice

Ingroup members display the outgroup homogeneity effect because

• A) ingroups and outgroups always compete for shared resources.
• B) they lack familiarity with members of the outgroup.
• C) they lack sufficient information to judge the variability of their own group.
• D) they usually encounter the most typical members of the outgroup.

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Definitions:

AVC

Average variable cost refers to the total variable cost per unit of output, calculated by dividing the total variable costs by the amount of output produced.

Price

The amount of money required to purchase a good or service, often determined by factors such as supply and demand.

Perfectly Competitive Firm

A company that operates in a market where there are many buyers and sellers, the product is homogeneous, and there are no barriers to entry or exit.

Normal Profit

Normal profit occurs when a firm's total revenue is equal to its total costs, including the opportunity costs of capital, providing no incentive for entry or exit in the industry.