Many listeners to a 1938 science fiction radio program believed that Martians were really invading the Earth They fled into the streets in panic We would call their behavior______________?
Correct answer: D. none of the above
- A. fashion
- B. rational legal behavior
- C. fantasy
- D. none of the above
Explanation
The panic was a form of collective behavior triggered by a widely shared but mistaken belief about an invasion. Since collective behavior is not listed, “none of the above” is correct.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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