Max, an Attorney, Is Attending a Hearing at the Federal

question 45

Multiple Choice

Max, an attorney, is attending a hearing at the federal courthouse. He opens the courthouse door for a young woman with a tattoo on her forearm. When Max enters the room of the hearing, he is stunned to see that the assigned judge is the same woman. Max had applied the ____.

• A)representativeness heuristic
• B)availability heuristic
• C)recognition heuristic
• D)affect heuristic

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Definitions:

Peak Times

Periods of high demand or activity within a market or service sector, often leading to higher prices or increased waiting times.

Electric Company

A utility company that generates, transmits, and distributes electricity to consumers and businesses.

Tragedy of the Commons

A situation in which individual users of a shared resource act in their own interest, depleting or degrading the common resource.

Negative Externality

A cost suffered by a third party as a consequence of an economic transaction in which they were not involved.