Consider the Following Statements

question 139

Multiple Choice

Consider the following statements:
a.Car owners purchase more petrol from a petrol station that sells petrol at a lower price than other rival petrol stations in the area.
b. Banks do not take steps to increase security since they believe it is less costly to allow some bank robberies than to install expensive security monitoring equipment.
c. Firms produce more of a particular DVD when its selling price rises.
Which of the above statements demonstrates that economic agents respond to incentives?

• A)b only
• B)c only
• C)a and b
• D)a, b, and c

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Definitions:

Too-Much-Talent Effect

The phenomenon where having too many highly talented individuals in a team leads to diminishing returns, often because of coordination failures or ego clashes.

Team Coordination

The process of integrating activities, efforts, and resources among team members to achieve common goals efficiently.

High Degree

A measure of how many connections or relationships a node has in a network.

Team Size

relates to the number of members in a team, which can influence aspects of team functionality such as communication, collaboration, and conflict.