Carol Is Trying to Decide Which College to Attend Next

question 330

Multiple Choice

Carol is trying to decide which college to attend next semester. She first eliminates those that are too far from home for her to be able to visit her family and friends on the weekend. The decision-making strategy demonstrated here is

• A) heuristic systematic decision-making process.
• B) elimination by aspects
• C) the representativeness heuristic
• D) the recognition heuristic

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Definitions:

Increasing Returns

The situation in which output increases by a larger proportion than the increase in inputs used in production.

Workers

Individuals who perform tasks or work for compensation, typically within the structure of employment by organizations or companies.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Total Product

The total quantity of output produced by a firm from a given quantity of inputs during a certain period of time.