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As a firm hires more labour in the short run, the
False Consensus Effect
The tendency to overestimate how much other people share our beliefs, attitudes, and behaviors.
Stanley Milgram
A psychologist best known for his groundbreaking studies on obedience, demonstrating people's willingness to follow authority figures' orders, even to the extent of harming others.
Obedience
The act of following the directions or commands of a person in authority.
Persuasion
The act or process of influencing someone's beliefs, attitudes, or behaviors through communication, argument, or appeal.
Q10: Economic efficiency in a competitive market is
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