A(n) _____ Occurs When Focusing Only on Information That Validates

question 101

Multiple Choice

A(n) _____ occurs when focusing only on information that validates a decision already made.

• A) confirmation error
• B) escalating commitment
• C) lack-of-participation error
• D) anchoring and adjustment bias
• E) framing error

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Definitions:

Federal Antitrust Laws

Laws designed to protect trade and commerce from unfair practices such as monopoly, price fixing, and other forms of market manipulation.

Sherman Act

A landmark federal statute in the antitrust law of the United States that prohibits monopolistic practices and promotes competition.

Relevant Market

The specific market segment in which a particular product or service competes, taking into consideration the product's substitute and the competition within this arena.

Geographic Market

An area or region wherein a company operates and competes for customers, often defined by political boundaries or population demographics.