-Use the Above Figure

question 121

Multiple Choice

-Use the above figure. The consumer's choice changes from Y_A to Y_B. Which of the following statements about good Y is true?

• A) price has increased and the quantity demanded has risen..
• B) price has decreased and the quantity demanded has risen.
• C) price has decreased and the quantity demanded has fallen.
• D) price has increased and the quantity demanded has fallen.

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Definitions:

Shared Information Bias

The tendency for group members to spend more time and emphasis discussing information that all members are already familiar with, rather than focusing on unshared, unique information.

Self-Censorship

The act of censoring or withholding one's opinions, feelings, or concerns, especially in a group setting, due to anticipated negative response or judgement from others.

Atmosphere of Unanimity

A situation in decision-making groups where a consensus is assumed or imposed, and dissenting views are minimized or ignored, potentially leading to poor decisions.

Desire for Success

The motivation to achieve goals and attain a high level of performance or accomplishment.