A Computer Store That Is 7 Miles from Your House

question 5

Multiple Choice

A computer store that is 7 miles from your house is selling a laptop for $800. The same laptop is selling for $825 at a store that is only 5 miles from your home. You decide that it is not worth
Your time and effort to drive the extra 2 miles. On the other hand, you drive 2 miles out of
Your way to buy gas at a gas station for $2.60 a gallon because the gas stations within a mile of
Your home price their gas at $2.70 a gallon, and your SUV holds 30 gallons of gas. What
Behavioral bias does this describe?

• A)compartmentalization
• B)relativism
• C)narcissism
• D)overconfidence

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Definitions:

Middle-aged Individual

A person who is in the middle period of life, typically between the ages of 40 and 65, often facing specific developmental challenges and transitions.

Victims of the Past

Individuals whose present conditions or behaviors are significantly influenced by negative events or experiences from their history.

Future Events

Occurrences or situations that have not yet happened but are anticipated or expected to occur.

Collective Unconscious

A term coined by Carl Jung referring to the part of the unconscious mind that is shared by a society, a people, or all humankind and is the source of universally inherited ideas and patterns.