Which of the Following Scenarios Demonstrates How Workers Determine Efficacy

question 55

Multiple Choice

Which of the following scenarios demonstrates how workers determine efficacy levels through vicarious experiences?

• A) Sal looks at his diploma from a prestigious university and realizes he is very smart.
• B) Reno pats Ed on the back and tells him he is making great progress on his design project.
• C) Butch compares the salary he has just been offered to the salary he made at his previous job.
• D) Bill, just named sales manager, asks Fred what his job was like when he was the sales manager.
• E) Linda, who has a tight deadline to meet, ranks her tasks by urgency in the hopes that this will keep her on track.

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Definitions:

Demand Function

An equation that illustrates the quantity of an item that will be demanded at various prices, assuming all other factors remain constant.

Equilibrium Price

The market price at which the quantity of a good supplied is equal to the quantity demanded, resulting in market equilibrium.

Marginal Cost

The augmentation in total cost triggered by the creation of one further unit of a product or service.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to a state of market equilibrium.