In the Statement, "The Highway Is Very Busy at 5

question 56

Multiple Choice

In the statement, "The highway is very busy at 5 p.m., and is scary to drive on, so I'll wait until 7 p.m. to go home," the word "scary" represents which component of an attitude?

• A) cognitive
• B) behavioral
• C) practical
• D) affective

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Definitions:

Profit-Maximizing

A strategy or point where a business achieves the highest possible profit with its current resources and market conditions.

Short Run

A period in economics where at least one input (such as plant size) is fixed, limiting the ability of a firm to adjust to market changes.

Market Price

The current price at which a good or service can be bought or sold in a given market.

Total Revenue

The total income received by a firm from selling its goods or services before any costs or expenses are subtracted.