Assume That You Have a Drawer That Contains 19 Black

question 95

Multiple Choice

Assume that you have a drawer that contains 19 black socks and 13 blue socks. What is the minimum number of socks that you must take from the drawer to insure that you have a matching pair? The answer is 3 socks. Most people have difficulty determining the answer because:

• A) of a conflict with the availability heuristic.
• B) they fail to apply deductive rules to new situations.
• C) of the belief bias.
• D) they are distracted by irrelevant information.

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Definitions:

Tax

A financial charge or levy imposed by a government on individuals or entities to fund public expenditure, creating government revenue.

Quantity Sold

The total number of units of a product or service purchased by customers over a specified period.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Consumer Surplus

The imbalance between the total budget consumers are willing to allocate for a product or service and the actual spending.