___________ Is a Tendency to Assume That People with One

question 54

Multiple Choice

___________ is a tendency to assume that people with one positive attribute (e.g., who are physically attractive) also have other positive traits.

• A) Halo effect
• B) BIRGing
• C) Transference
• D) Propinquity effect

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Definitions:

Monopsony Buyer

A market condition where there is only one buyer for many sellers, giving the buyer significant control over prices.

Marginal Expenditure

The increase in cost that arises when buying an added unit of a product or service.

Average Expenditure

The average amount spent per unit of a good or service.

Competitive Buyer

An individual or entity that purchases goods or services in a market where there is competition, aiming to obtain the best possible price and quality.