Groupthink Involves Members of a Group Agreeing to a Position

question 20

True/False

Groupthink involves members of a group agreeing to a position in order to avoid conflict or disagreement between group members.

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Definitions:

Total Variable Cost

The sum of expenses that change in proportion to the activity or volume of production.

Average Variable Cost

The total variable costs divided by the quantity of output produced; it fluctuates with changes in output.

Marginal Cost

The increase or decrease in the total cost that arises from producing one additional unit of a good or service.

Average Variable Cost

The per-unit variable cost, found by dividing the total variable expenses by the amount of output generated.