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When Milgram polled a group of psychiatrists before he conducted his obedience experiments, these psychiatrists predicted that less than one percent of those tested would obey.In reality, ____________________ percent of the subjected obeyed completely by going all the way to the 450-volt level.
_______________ or _______________ or _______________ or _______________.
Price Floor
A minimum price set by the government or an organization for a particular good or service, below which it cannot be sold.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period, with price on the vertical axis and quantity on the horizontal axis.
Fixed Costs
Business expenses that are not affected by changes in the level of goods or services produced over the short term.
Variable Costs
Costs that fluctuate in direct proportion to the level of output or activity in a business.
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