If an Increase in the Price of a Product from $100

question 8

Multiple Choice

If an increase in the price of a product from $100 to $200 per unit leads to a decrease in the quantity demanded from 10 to 8 units,then demand is _____

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)zero.
• E)perfectly elastic.

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Definitions:

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Ingroup Bias

The tendency to favor members of one's own group over those from external groups, often leading to prejudice and discrimination.

Individual Performance

Individual performance is the measure of how well a person accomplishes their tasks or goals in a specific context, such as work or sports.

Group Polarization

A tendency for group discussion to shift group members toward an extreme position.