A Firm Built an Inventory of 16-Bit Chips for $50,000

question 72

Multiple Choice

A firm built an inventory of 16-bit chips for $50,000 last year.However,the introduction of 32-bit chips lowers the market price for 16-bit chips and the inventory can only be sold for $40,000 now.What is the opportunity cost of the inventory of 16-bit chips?

• A)$50,000
• B)$40,000
• C)$10,000
• D)$90,000

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Definitions:

Process Theories

Theories that focus on the psychological and behavioral processes that motivate individuals to act in certain ways.

Perceptual Biases

Psychological tendencies that cause the misinterpretation or distortion of a sensory stimulus or judgment.

Selective Perception

The process by which individuals perceive what they want in media messages while ignoring opposing viewpoints.

Normative Influence

The impact of societal norms and expectations on an individual's behavior, often leading to conformity.