If Demand in the United States Is Given by Q₁

question 15

Multiple Choice

if demand in the United States is given by Q₁ = 13,200 - 600p₁, where p₁ is the price in the United States, and if the demand in England is given by 9,000 - 500p₂, where p₂ is the price in England, then the difference between the price charged in England and the price charged in the United States will be

• A)$4.
• B)$2.
• C)$0.
• D)$12.
• E)$6.

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Definitions:

Group Effect

The influence that a group has on individual behavior, leading to changes in attitudes, values, or behaviors due to group dynamics.

Deindividuation

The process by which group members may discontinue self-evaluation and adopt group norms and attitudes.

Prejudice

An attitude toward a group that leads people to evaluate members of that group negatively.

Cognitive Level

A term referring to the complexity, depth, and breadth of an individual's mental abilities and processes.