The Representativeness Heuristic Should Cause People to Think That Families

question 141

Multiple Choice

The representativeness heuristic should cause people to think that families with four children are more likely to have ​

• A)four children of the same sex.
• B)two boys and two girls.
• C)three boys and one girl.
• D)three girls and one boy.

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Definitions:

AVC Curve

A graph that represents the average variable cost of producing each quantity of output, showing how these costs vary with changes in output levels.

Short-Run Situation

A period in which at least one of a firm's inputs is fixed, limiting its capacity to adjust output levels quickly.

Marginal Revenue

The increase in revenue a business gets from the sale of an extra unit of a product or service.

Marginal Cost

The incremental cost of producing an additional unit of a product or service.