Competitive Firms Earn Zero Profit in the Long Run When

question 53

Multiple Choice

Competitive firms earn zero profit in the long run when

• A)entry is completely free.
• B)entry is limited.
• C)Both A and B.
• D)Neither A nor B.

Recognize the behavioral component of attitudes through examples.

Explain the concept of cognitive dissonance and its cultural variations.

Understand the role of social norms in shaping behavior and attitudes.

Identify strategies for reducing prejudice and discrimination.

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Definitions:

Perceived Behavioral Control

An individual's belief in their capability to execute behaviors necessary to produce specific performance attainments.

Behavioral Intention

A person's predisposition towards performing a certain action, influenced by personal attitudes and societal norms.

Theory of Planned Behavior

A psychological theory that predicts an individual's intention to engage in a behavior at a specific time and place, based on their attitude, subjective norms, and perceived behavioral control.

Attitude-Behavior Consistency

The extent to which an individual's behaviors or actions mirror their feelings and beliefs.