Sharon Had a Major Argument with Terence,her Fifty-Year-Old General Manager

question 42

Multiple Choice

Sharon had a major argument with Terence,her fifty-year-old general manager in her previous company,whom she perceives as being arrogant and snobbish.Following the argument,she quit her job and found a job in another company and is currently working under Ian who is about the same age as Terence.She now feels that Ian is also arrogant and snobbish.According to the biases and heuristics in decision making,it can be concluded that Sharon is likely to employ _____ in this scenario.

• A)availability heuristic
• B)representativeness heuristic
• C)base rate neglect
• D)hindsight bias

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Definitions:

Total Utility

The aggregate level of satisfaction or fulfillment that a consumer receives through the consumption of goods or services.

Total Utility

This is the aggregate level of satisfaction or value that consumers derive from consuming a given amount of goods or services.

Marginal Utility

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

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer derives from purchasing one more unit of a good or service.