The economic rule of thumb that only future costs and benefits, ...

[clmills979]

The economic rule of thumb that only future costs and benefits, not past commitments, should be considered in making a decision is the
 
  a. sunk cost principle.
  b. escalation effect.
  c. endowment effect.
  d. contingency model.

Question 2

We can conclude that participants in Sheriff's study exhibited private conformity rather than public conformity because
 
  a. when retested without their fellow group members, participants reverted to their original estimates.
  b. they would report their group's normative estimate when asked to respond aloud, but not when asked torespond in writing.
 c. they continued to use their group estimates when retested alone one year later.
  d. the task was too easy for people to demonstrate public conformity.

[bfulkerson77]

Answer to Question 1

a

Answer to Question 2

c

[clmills979]

Thank you!

[bfulkerson77]

Happy to help