Professor Chadwick Evaluated a Graduate Student's Research Proposal Negatively Simply

question 210

Multiple Choice

Professor Chadwick evaluated a graduate student's research proposal negatively simply because he had heard a rumor about the student's incompetence.When later informed that the rumor had been false,the professor's assessment of the student's research proposal remained almost as negative as it had been originally.This best illustrates

• A)the representativeness heuristic.
• B)the availability heuristic.
• C)belief perseverance.
• D)framing.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how the revenue from selling one additional unit varies.

Horizontal

A line or direction parallel to the ground or to the bottom edge of a page, representing equality or uniformity in a graphical representation.

Market Price

The current price at which an asset or service can be bought or sold.

Average Variable Cost

The variable cost of production divided by the quantity of output, representing the cost of labor and materials per unit of production.