When People Wish to Make Accurate Judgments,but Don't Have the Time

question 32

Multiple Choice

When people wish to make accurate judgments,but don't have the time or ability to analyze the evidence closely,they

• A) experience cognitive dissonance.
• B) rely on "shortcut" evidence.
• C) develop a strong need for cognition.
• D) rely on their well-developed counterarguments.

---

Definitions:

Variable Costs

Costs that vary directly with the level of output or production, such as materials and labor costs.

Industry Short-run

A period in which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust fully to market changes.

Marginal Cost

The financial addition incurred by manufacturing one more unit of a product or service.

Fixed Cost

represents expenses that do not change in total regardless of the level of output or activity, such as rent or salaries.