In General,the More ____ a Decision Between Alternatives,the ____ Post-Decision

question 198

Multiple Choice

In general,the more ____ a decision between alternatives,the ____ post-decision dissonance.

• A)permanent; greater
• B)revocable; greater
• C)trivial; greater
• D)freer; less

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Definitions:

AVC

Average Variable Cost, which is the total variable costs divided by quantity of output produced.

ATC

Average Total Cost; the sum of all production costs divided by the quantity of output produced.

Perfectly Competitive Firm

A business operating in a market where there are many buyers and sellers, all selling identical products, with no barriers to entry or exit.

Loss

A financial condition where costs exceed revenues, resulting in a negative profit.