Which of the Following Is False

question 132

Multiple Choice

Which of the following is false?

• A)The basis for monopoly in the automobile industry would most likely be economies of scale.
• B)The DeBeers Diamond Company is NOT a natural monopoly.
• C)Big business has a great deal of economic and political power.
• D)The average American CEO pulls down 25 to 40 times the earnings of the average worker.

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Definitions:

Overconfidence

A cognitive bias where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.

Accurate Decision

A decision that effectively meets the intended objective or solves the problem based on correct and reliable information.

Groupthink

A psychological phenomenon where the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.

Concurrence Seeking

The practice of striving for consensus and agreement within a group, sometimes at the expense of critical thinking.