Use the Following to Answer Questions

question 192

Multiple Choice

Use the following to answer questions
Figure: Interpreting Supply Shifts 3
-(Figure: Interpreting Supply Shifts 3) When the supply shifts from S₀ to S₁ (a leftward shift of the supply curve) ,the equilibrium quantity changes from:

• A) $60 to $40.
• B) $40 to $60.
• C) 20 to 15.
• D) 15 to 20.

---

Definitions:

Reciprocity Norm

A social norm that expects individuals to respond to each other in kind, returning benefits for benefits and responding with either indifference or hostility to harms.

Free Samples

Small quantities of a product given to consumers at no cost to introduce the product and encourage future purchasing.

Mere Exposure Effect

A mental occurrence where individuals tend to favor items or concepts simply because they recognize or are accustomed to them.

Just-World Phenomenon

The belief that the world is fundamentally fair, leading people to rationalize injustice or misfortune as deserved by the victims.