Peter, Paul and Mary Have Just One Weekend to Climb

question 9

Multiple Choice

Peter, Paul and Mary have just one weekend to climb a famous mountain. Early on the first morning the weather does not look too good, and individually they know they can't climb that day. So they sit in their cabin to talk about what comes next. Five minutes later, they know. They will tackle the climb the next day, whatever the weather. This looks suspiciously like an instance of:

• A) diffusion of responsibility.
• B) conformity.
• C) follow-the-leader.
• D) groupthink.

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Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a particular input, keeping other inputs constant.

Short-Run Curve

Refers to a period in economics during which at least one factor of production is fixed, affecting production and cost decisions.

Marginal Product

The change in output resulting from employing one more unit of a particular input while holding all other inputs constant.

Total Product

The total quantity of output produced by a firm for a given quantity of inputs.