Ed and Harry Believe That Ghosts Are Running Rampant in a Nearby

question 45

Multiple Choice

Ed and Harry believe that ghosts are running rampant in a nearby town. When looking for information on the Internet, they ignore any sites that are skeptical of their beliefs and only visit sites that support their beliefs. This is an example of __________.

• A) confirmation bias
• B) functional fixedness
• C) creativity bias
• D) confirmation fixedness

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Definitions:

Technical Substitution

The process of replacing one set of inputs or technologies with another to produce the same amount of output, often for efficiency improvements.

Isoquant

A curve representing all combinations of inputs that produce the same level of output in the production process, analogous to an indifference curve in consumption.

Inputs

Resources used in the production process to create goods and services, including labor, materials, and capital.

Total Output

The total quantity of goods or services produced by a firm or economy over a specific period.