The Value of a Group Membership That Was Once Very

question 13

Multiple Choice

The value of a group membership that was once very satisfying drops down below your comparison level.According to social exchange theory,you will

• A)terminate your membership.
• B)not terminate your membership until it drops below your CLalt.
• C)attempt to improve the group.
• D)continue as a member,even if another more satisfying one is available.

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Definitions:

Reservation Price

This is another term for reserve price, meaning the lowest price at which someone is willing to sell a good or service.

Tape Recorder

An electronic device used for recording sound on magnetic tape and usually capable of playback.

Money

A medium of exchange used to facilitate transactions of goods and services.

Producer's Surplus

The difference between the amount a producer is willing to accept for a good or service and the actual amount received from its sale.