Which Cognitive Bias Best Describes Our Tendency to Judge People

question 50

Multiple Choice

Which cognitive bias best describes our tendency to judge people based on first impressions?

• A)confirmation bias
• B)the representativeness heuristic
• C)the availability heuristic
• D)the means-end heuristic
• E)divergent thinking

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Definitions:

Monopolist

A single seller in a market who has significant control over the prices and supply of a product or service.

Profit Maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit.

Profit Level

Refers to the degree of financial gain achieved by a business, indicating its success in generating earnings above its costs.

Perfectly Price-Discriminating

A theoretical market condition where a seller charges each buyer their maximum willingness to pay, capturing all possible consumer surplus.