Refer to the Graph Below

question 74

Multiple Choice

Refer to the graph below. Point A represents a price of:

• A)3 and a quantity of3.
• B)3 and a quantity of5.
• C)5 and a quantity of3.
• D)5 and a quantity of5.

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Definitions:

Primacy Effect

Tendency to remember information at the beginning of a body of information better than the information that follows.

Cognitive Dissonance

A psychological theory that suggests discomfort arises when a person holds conflicting beliefs, attitudes, or values, often leading to changes in one of the beliefs or behaviors.

Primacy Effect

The tendency to remember information at the beginning of a list better than the information that follows.

First Impression

the initial perception one person has of another upon meeting, which can significantly influence future perceptions and interactions.