Figure 18-11 -Refer to Figure 18-11. Suppose the Intersection of the Supply

question 285

Multiple Choice

Figure 18-11
-Refer to Figure 18-11. Suppose the intersection of the supply and demand curves matches with a value of $200 on the vertical axis. Then

• A)the marginal product of capital is 200.
• B)the value of the marginal product of capital is $200.
• C)a unit of capital can be purchased for $200.
• D)each worker in markets that produce capital goods earns a wage of $200.

---

Definitions:

Parental Death

The loss of a parent, which is a profoundly impactful event in a person's life, often resulting in significant emotional and psychological adjustments.

Cognitive Dissonance Theory

The theory that we act to reduce the discomfort (dissonance) we feel when two of our thoughts (cognitions) are inconsistent. For example, when we become aware that our attitudes and our actions clash, we can reduce the resulting dissonance by changing our attitudes.

Leon Festinger

A psychologist best known for his theory of cognitive dissonance, which describes the discomfort experienced when holding conflicting ideas or beliefs.

Fritz Heider

A psychologist known for his work in the development of attribution theory, which tries to explain how people evaluate the causes of others' behavior.