When Asked About the Leading Cause of Deaths in the U.S

question 73

Multiple Choice

When asked about the leading cause of deaths in the U.S., Jill chose car accidents over heart disease as the cause of more U.S. deaths per year. When asked why she chose the wrong answer, she said, "I hear about fatal car accidents more often than I hear about deaths caused by heart diseases." The type of judgement error made by Jill is

• A)availability bias.
• B)representative bias.
• C)anchoring and adjustment.
• D)confirmation bias.
• E)overconfidence bias.

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Definitions:

Profitable

Generating revenue that exceeds the expenses, costs, and taxes needed to sustain the activity.

Average Total Cost

The cost per unit of output, calculated by dividing the overall production costs by the number of units produced.

Profit-maximizing

A strategy or point where a business reaches the highest possible profit level with given operational limits and market conditions.

Total Revenue

the overall amount of money generated by a firm from its sales activities before any costs or expenses are subtracted.