Which of the Following Is an Example of the Systematic

question 38

Multiple Choice

Which of the following is an example of the systematic bias of paying attention to sunk costs?

• A) About 80% of the people on an Internet dating site rate their looks as very good or above average.
• B) A person decides to save his overtime payment this week, but once he receives the payment, he spends it.
• C) A person buys a product because it is listed at 80% off an inflated price.
• D) People continue to play golf in a rainstorm because they don't want to waste the money they paid on greens fees.

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Definitions:

Cancer-Causing Particles

Substances or elements that, upon exposure, increase the risk of developing cancer in living tissues.

Plastic Containers

Durable and versatile containers made from plastic materials used for storing, packaging, or transporting goods.

Demand Decrease

A situation in which the quantity of a good or service sought by buyers falls due to factors such as changes in taste, income, or prices of substitutes.

Excess Demand

A situation where the quantity demanded of a product exceeds the quantity supplied at a given price.