Which of the Following Statements Is Representative of Self-Serving Bias

question 14

Multiple Choice

Which of the following statements is representative of self-serving bias?

• A)"I won the election because my opponent didn't try very hard."
• B)"I won the election because of my hard work on the campaign trail."
• C)"I lost the election because of the political climate,which I couldn't do anything about."
• D)"I won the election because of my knowledge and expertise."

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Definitions:

Law of Diminishing Returns

This economic law states that as one factor of production is increased while others are held constant, the incremental gains in output will eventually diminish.

Product Outputs

The quantity of goods or services produced by a business or economy in a given period.

Marginal Product

The additional output produced as a result of using one more unit of a particular input, keeping other inputs constant.

Total Product

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