Examlex
Which of the following statements is TRUE? Economists normally assume that the goal of the firm is to:
I. sell as much of their product as possible.
II. set the price of their product as high as possible.
III. maximize profit.
Illusory Correlation
A tendency to assume an association between two rare occurrences, such as being in a minority group and performing negative actions.
Minority Group
A demographic group that is smaller in numbers within a larger society and is often subjected to differing treatment or discrimination.
Negative Actions
Behaviors or deeds that have harmful, destructive, or undesirable outcomes.
Illusory Correlations
The perception of a relationship between two variables even when no such relationship exists.
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