The Perceptual Error That Occurs When a Person Uses Only

question 62

Multiple Choice

The perceptual error that occurs when a person uses only one piece of known information to come to a general perception about another person is known as a(n) _____.

• A)halo/horn effect error
• B)Selective perception error
• C)Anchoring bias
• D)Adjustment bias

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Definitions:

Marginal Revenue Product

The boost in revenue achieved by adding one more unit of a factor involved in production.

Marginal Product

The additional output that results from using one more unit of a particular input, keeping other inputs constant.

Variable Input

Any resource used in production whose quantity can be changed in the short term to increase or decrease output.

Marginal Revenue Product Curve

A graphical representation showing how the additional revenue generated by employing one more unit of a resource varies with the quantity of the resource employed.