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A department chair decides to change a little-used computer lab into a classroom so that students will interact more between classes. The chair notices that students do use the lounge more while waiting for classes in the building. This is an example of which kind of change?
Sunk Costs
Sunk costs refer to expenses that have been incurred and cannot be recovered, often influencing future decision-making in a way that irrationality values these past investments over current and future considerations.
Dating
The process of two people engaging in activities together to explore romantic or sexual interest.
Alternative Prospects
Potential alternative opportunities or choices available in a given situation.
Social Exchange Theory
A theoretical framework that posits social behavior is the result of an exchange process aiming to maximize benefits and minimize costs in relationships.
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