Figure 6-4 -Refer to Figure 6-4.Which of the Following Statements Is Not

question 133

Multiple Choice

Figure 6-4
-Refer to Figure 6-4.Which of the following statements is not correct?

• A)When the price is $10,quantity supplied equals quantity demanded.
• B)When the price is $6,there is a surplus of 8 units.
• C)When the price is $12,there is a surplus of 4 units.
• D)When the price is $16,quantity supplied exceeds quantity demanded by 12 units.

---

Definitions:

Overconfidence

The bias in which someone's subjective confidence in their judgements is greater than their objective accuracy.

Framing Effect

A cognitive bias where people react differently to a particular choice depending on how it is presented.

Health Maintenance Organization

A type of health insurance plan that provides healthcare services through a network of doctors and hospitals for a fixed annual fee.

Radiation Therapy

A medical treatment that uses high doses of radiation to kill cancer cells and shrink tumors.