Katy Swims Faster When There Are Large Crowds at the Swim

question 105

Multiple Choice

Katy swims faster when there are large crowds at the swim meet than when she practices and no one is around.Her faster times may be due to:

• A) social inhibition
• B) deindividuation
• C) diffusion of responsibility
• D) social facilitation

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Definitions:

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

Perfect Competitor

A theoretical market structure where numerous small firms compete against each other without having any significant market power.

Output

The total amount of goods and services produced by an economy or a firm.

MC

Marginal Cost, which refers to the increase or decrease in the cost of producing one additional unit of a good or service.