Which of the Following Cases Contains an Element That May

question 44

Multiple Choice

Which of the following cases contains an element that may lead a politician to correct cognitive dissonance?

• A)The politician is a male.
• B)The politician has the power to pass legislation to keep the spotted owl from extinction.
• C)The politician will get re-elected for ignoring the needs of the spotted owl.
• D)The politician grew up in the city.
• E)A politician does not really care if the spotted owl lives or becomes extinct.

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Definitions:

Fixed Cost

Expenses that do not vary with the level of production or sales, such as rent or salaries.

Variable Cost

Costs that vary directly with the level of production or with volume of output.

Inelastic Demand

A market situation where the demand for a product does not significantly change with a change in its price.

Elastic Demand

A situation in which the demand for a product is sensitive to price changes, meaning that a small change in price results in a large change in the quantity demanded.