(Scenario II) After Piloting the Survey Described in Scenario II

question 134

Multiple Choice

(Scenario II) After piloting the survey described in Scenario II, the authors found that many children responded by always using the endpoints in the provided set of response alternatives. The participants seem to be exhibiting which response bias?

• A) the acquiescent response set
• B) the error of central tendency
• C) participant judgment bias
• D) random response bias

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Definitions:

Market Price

The actual selling price of goods or services available in the marketplace at any given time.

Marginal Revenue

Marginal revenue is the additional income earned from selling one more unit of a good or service.

Marginal Cost

The change in total cost that arises when the quantity produced changes by one unit; essentially the cost of producing one additional unit of a good or service.

Price-Taker Firm

A firm that has no control over the market price and must accept the prevailing market price for its product.