The University Recently Inherited a Large Mansion from a Wealthy

question 95

Multiple Choice

The university recently inherited a large mansion from a wealthy alumnus.The university plans to use the mansion for faculty parties and to house distinguished guests.The opportunity cost of the mansion to the university is:

• A)zero because it was a gift.
• B)the original cost of building the mansion.
• C)the amount the university would receive if it sold the mansion.
• D)the cost of catering the parties at the mansion.

---

Definitions:

Selective Attention

The focusing of conscious awareness on a particular stimulus while ignoring others, essential in processing information efficiently.

Self-fulfilling Prophecy

A psychological phenomenon in which a person's or group's belief or expectation brings about its own realization or outcome.

Stereotyping

Making generalized assumptions about individuals or groups based on perceived characteristics, often leading to prejudiced attitudes or actions.

Social Identity

The part of an individual’s self-concept derived from their perceived membership in social groups, shaping their behavior and attitudes.