A Very Cohesive Group,insulated from Outside Opinion,with a Respected Leader

question 70

Multiple Choice

A very cohesive group,insulated from outside opinion,with a respected leader must make a decision quickly.As they deliberate,this group should be especially aware of the phenomenon called

• A)deindividuation.
• B)social facilitation.
• C)groupthink.
• D)group polarization.

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Definitions:

Marginal Cost

Marginal cost is the cost incurred by producing one additional unit of a product or service.

AVC

Average Variable Cost, which is the total variable costs (costs that change with the level of output) divided by the quantity of output produced.

Shut Down

The temporary or permanent cessation of operations, often referring to business closure due to economic events or strategic decisions.

Purely Competitive Seller

Describes a market situation where a large number of sellers offer identical products, and no single seller can influence the market price.