Use the Following to Answer Questions

question 312

Multiple Choice

Use the following to answer questions :
Figure: Cost Curves for Corn Producers
-(Figure: Cost Curves for Corn Producers) Use Figure: Cost Curves for Corn Producers.The market for corn is perfectly competitive.If the price of a kilogram of corn is $4,in the short run,the farmer will produce _____ kilograms of corn and earn an economic _____ equal to _____.

• A) 0;loss;average fixed costs
• B) 0;loss;total fixed costs
• C) 3;loss;$30 per kilogram
• D) 3;profit;$20 per kilogram

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Definitions:

Descriptive Norms

Refers to the perception of behaviors that are typical or normal within a specific group, guiding members' actions based on what is commonly done.

Injunctive Norms

Social norms that are perceived as approved or disapproved behaviors by a cultural or social group, guiding individuals on what they ought to do.

Focus Theory

An approach in psychology that examines how individuals concentrate their attention or energy on specific thoughts, tasks, or goals and the impact of this focus on behavior and cognition.

Social Contagion

The spread of ideas, attitudes, or behaviors through a group or society via social influence, similar to the transmission of infectious diseases.