Jeremiah is not a fan of the ballet, but he believes that his friends all enjoy the cultural experience that ballet brings and he does not want to appear unsophisticated
Unbeknownst to Jeremiah, all of his friends share the same opinion of the ballet as he does, and none of them want to appear unsophisticated to the rest of the grouA) diffusion of responsibility.
B) dysfunctional family syndrome.
C) pluralistic ignorance.
D) a prisoner's dilemma.
C
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A decrease in the price of a good will cause a movement along the demand schedule to a higher quantity demanded.
Answer the following statement true (T) or false (F)
Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. QuantityPrice1$102$93$84$75$66$57$48$3If the marginal cost of producing each unit of output is $5, then at the monopolist's profit-maximizing level of output, the monopolist produces ________ units of output than is socially optimal.
A. 3 more B. 2 fewer C. 3 fewer D. 1 more
If the substitution effect of wage increases is greater than the income effect, then the individual labor supply curve is positively sloped in the short run.
Answer the following statement true (T) or false (F)
Checking account deposits are included in
A. lines of credit. B. currency. C. M1. D. money market account.