Figure 9-11 -Refer to Figure 9-11.Suppose the Prevailing Price Is $20 and Price

question 120

Multiple Choice

Figure 9-11

-Refer to Figure 9-11.Suppose the prevailing price is $20 and the firm is currently producing 1,350 units.In the long-run equilibrium,the firm represented in the diagram

• A) will continue to produce the same quantity.
• B) will reduce its output to 1,100 units.
• C) will reduce its output to 750 units.
• D) will cease to exist.

---

Definitions:

Compliance

The act of conforming to a request or command, often used in social psychology to discuss conformity and obedience.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, politics, or being similar to others.

Attitude Change

Attitude Change refers to the process by which an individual's feelings, beliefs, or positions on a topic are altered, often as a result of persuasion, new information, or personal experiences.

Cognitive Dissonance

The psychological unease felt when an individual simultaneously possesses conflicting beliefs, ideas, or values.