Sammy and Mark Watched a Ballgame Together

question 119

Multiple Choice

Sammy and Mark watched a ballgame together.Sammy favored the home team, while Mark was an avid fan of the road team.The star player for Sammy's team made a great play and started to celebrate in a rather demonstrative fashion.Sammy got caught up in the celebration, while Mark was angered because he felt this display was an insult to the players of his team.This demonstrates that

• A) two people's evaluations of the same event are more likely to be similar than to be different.
• B) we often interpret events and behavior based upon pre-existing attitudes.
• C) central route processing leads to stronger opinions than peripheral route processing.
• D) we can hold both positive and negative evaluations about the same object.

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Definitions:

Utility Function

A utility function is a mathematical representation of a consumer's preference structure, showing how different bundles of goods and services translate into levels of satisfaction or utility.

Exchange Equilibrium

Exchange equilibrium refers to a state in a market where the supply of goods is equal to the demand for goods, resulting in no excess supply or demand.

Perfect Competition

A market structure characterized by an infinite number of buyers and sellers, homogenous products, and no barriers to entry or exit, leading to price takers rather than price makers.

Efficiency

The ability to achieve a desired result or work output with minimum wasted effort or expense.