Identify the True Statement About Impact Bias

question 101

Multiple Choice

Identify the true statement about impact bias.

• A)People are prone to impact bias after negative events.
• B)It excludes the impact of emotion-causing events.
• C)It is most commonly referred to as the false consensus effect.
• D)Under impact bias,the emotional traces of good tidings stay forever.

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Definitions:

Star Wars

A popular science fiction franchise created by George Lucas, comprised of movies, books, comics, and more.

Consumer Surplus

The variance between what consumers are prepared and capable of spending for a product or service compared to the actual amount they end up paying.

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service.

Consumer Surplus

The consumer surplus is the gap between what consumers are ready and capable of paying for a good or service and what they actually spend on it.