When Groups Get Together for Discussions, Their Decisions Tend to Be

question 37

Multiple Choice

When groups get together for discussions, their decisions tend to be more extreme than any one member would have made alone. This phenomenon is known as:

• A)common knowledge effect.
• B)group relativity.
• C)group polarization.
• D)diffusion of responsibility.

---

Definitions:

Kinked Market Supply

A theoretical market supply curve where firms face a discontinuous elasticity of demand at different prices, leading to price stability within a certain range.

Producer Surplus

The difference between what producers are willing to sell a product for and the actual price at which they sell it.

Market Supply Elasticity

A measure of how much the quantity supplied of a good changes in response to a change in price.

Supply Curves

Graphical representations showing the relationship between the price of a good and the amount of it that producers are willing to supply at that price.