If the Quantity of Big Macs Demanded Falls from 2

question 174

Multiple Choice

If the quantity of Big Macs demanded falls from 2.0 million to 1.6 million as the price of Whoppers falls from $1.40 to $.80, the cross-price elasticity of demand for Big Macs is:

• A) −2.5.
• B) −0.4.
• C) 2.5
• D) 0.4.

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Definitions:

Homogeneity Of Attribution

The tendency to assume that individuals within a group share the same attributes, beliefs, or characteristics, often leading to stereotypes.

Explanatory Style

The tendency to use similar causal attributions for a wide variety of events in one’s life.

Self-enhancement

involves activities or thoughts that improve one’s self-esteem or self-image, often through comparison with others or focusing on positive feedback.

Internal Attributions

Ascribing the causes of behavior to personal dispositions, traits, abilities, and feelings.