Using the Framework of Festinger's Classic Study, Which Participant Is

question 71

Multiple Choice

Using the framework of Festinger's classic study, which participant is most likely to suffer from cognitive dissonance

• A) Anna, who receives $100
• B) Brad, who receives a $20 gift card
• C) Carol, who receives a "thank you"
• D) David, who was treated rudely by the researcher

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Definitions:

X-Inefficiency

Occurs when a firm fails to utilize its resources efficiently, due to factors like lack of competitive pressure or managerial inefficiencies.

Homogeneous Product

A product that is considered identical or nearly identical to another product from a different producer.

Pure Competition

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit.

Pure Monopoly

A market structure characterized by a single seller facing no competition, possessing the power to control prices and market supply.