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Fancy Furniture produced a batch of 2,000 coffee tables at a cost of $355,000.It was discovered that the entire batch was finished improperly.Fancy can sell the tables as seconds for $305,000 or spend an additional $315,000 to refinish them and sell them for $605,000.
-In deciding whether to rework the tables or sell them as is,management should:
Pluralistic Ignorance
A psychological state where members of a group mistakenly believe their thoughts, feelings, or behaviors are different from those of the group.
Zajonc's Theory
This theory posits that the mere exposure to a stimulus can enhance one's preference for it, emphasizing the power of familiarity in affecting attitudes.
Social Facilitation
The phenomenon that people often perform better on tasks when in the presence of others compared to when they are alone.
Bystander Intervention
The act of stepping in to help when someone sees another person in a harmful situation, influenced by various psychological factors.
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