Jocelyn Recently Applied for an Internship

question 35

Multiple Choice

Jocelyn recently applied for an internship. When she did not get selected, Jocelyn complained to her friend, "They probably gave the internship to a student belonging to a minority group to fill a racial quota." Jocelyn's comment exemplifies _____.

• A) ethnocentrism
• B) pluralism
• C) tracking
• D) scapegoating
• E) stereotyping

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Definitions:

Maximum Willingness

Describes the highest amount a consumer is willing to pay for a good or service, reflecting the maximum value they derive from it.

Producer Surplus

The discrepancy between the acceptable payment to producers for a good or service and the real compensation they receive.

Consumer Surplus

The variance between the sum consumers are ready and able to spend on a good or service and what they really pay.

Producer Surplus

The gap between the amount producers are prepared to accept for a product or service and the actual payment they get.