Roman Wishes to Introduce a New Drinking Water System to His

question 33

Multiple Choice

Roman wishes to introduce a new drinking water system to his office and do away with the bottled water vending machine. He asks the audience to raise their hands if they like to waste money and plastic. He then asks the audience to raise their hands if they would like to save money and the environment. Roman is using what technique to persuade his audience?

• A) cognitive dissonance
• B) analogical reasoning
• C) causal reasoning
• D) logical reasoning

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Definitions:

Long Run

A period in economics during which all factors of production and costs are variable, allowing for full adjustment to change, such as new technology or market conditions.

Profit

The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes involved in sustaining the activities.

Loss

An economic condition where expenses exceed revenues, indicating negative financial performance.

Profit-Maximizing

A strategy or process by which a firm determines the price and output level that returns the greatest profit.