Four-Year-Old Astrid Does Not Like to Get Dressed Early in the Morning

question 8

Multiple Choice

Four-year-old Astrid does not like to get dressed early in the morning to go to day care. So rather than simply telling her to put on the clothes he laid out the night before, her father has begun to lay out several outfits. In the morning, he asks her which outfit she wants to wear for the day. Astrid's father is making use of the idea of ____.

• A)the status quo bias
• B)the omission bias
• C)reactance
• D)dissonance

---

Definitions:

Profits-Payoff Table

A tabular representation that illustrates the potential profits or payoffs from various business strategies or decisions under different scenarios.

Duopoly

A market structure characterized by two companies controlling the majority of the market share for a good or service.

Firm X

A placeholder name commonly used in economic and business contexts to refer to a hypothetical or unidentified company.

Game Theory Matrix

A table or grid representing the possible outcomes of different strategies played by participants in a situation where their decisions affect each other.