Suppose That All Pizza Companies Have the Same Costs and the Minimum

question 180

Multiple Choice

Suppose that all pizza companies have the same costs and the minimum average total cost is $12 per pizza. The pizza companies have an efficient scale of 100 pies per night. In the small town of Coatsville, at the price of $12 per pizza the quantity demanded is approximately 300 pizzas per night. This market, therefore, can best be characterized as

• A) perfectly competitive.
• B) a natural monopoly.
• C) a natural duopoly.
• D) a natural oligopoly.

Identify factors that influence first impressions and interpersonal judgments.

Explore the psychological mechanisms behind forming impressions of others.

Comprehend the significance of in-groups and out-groups in social categorization.

Examine the effects of personal and situational factors on behavior attribution.

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Definitions:

Referent

An individual or group that someone relates to or identifies with, often used as a standard for comparison in social psychology.

Referent Power

A form of influence based on the leader's personal traits and the followers' identification with, attraction to, or admiration for the leader.

Critical

Characterized by a tendency to question, evaluate, and analyze issues thoroughly before accepting them as true or making decisions.

Unusual

signifies something that is not common, ordinary, or expected, often attracting attention due to its distinctiveness.