Which of the Following Statements Is True

question 69

Multiple Choice

Which of the following statements is true?

• A)Voting creates divisions in the group and should be avoided.
• B)Groups prefer to use voting methods when dealing with sensitive,consequential matters.
• C)Members react positively to decisions if they feel fair procedures were used.
• D)Group members rebel when others make their decisions for them,even if they are benefited by the decision.

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Definitions:

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.

Perfectly Competitive

Describes a market structure where numerous small firms compete against each other, and no single entity has market power to set the price of a homogeneous product.

Market Price

The price at which a good or service is offered in the marketplace, determined by supply and demand forces.

Marginal Cost

The increase in total cost that arises from producing an additional unit of output, reflecting the cost of producing one more unit.