Case-Based Critical Thinking Questions Case 3-3 at the ACME Widget

question 9

Multiple Choice

Case-Based Critical Thinking Questions Case 3-3 At the ACME Widget Company the computers have started behaving weirdly. Chris noticed that his directory had some files that he didn't remember putting on his computer. Lesley noticed their computer was beginning to run very slow and Kim realized she was getting replies to emails she had not sent. The owner of the ACME Widget Company has contacted you to see if their company might have a computer security problem. ACME Widget Company is concerned it may have a ____ which is a self-replicating program designed to carry out some unauthorized activity on a victim's computer.

• A) virus
• B) worm
• C) Trojan horse
• D) bot

Understand the optimal output rule and its application in perfect competition.

Recognize the characteristics of perfectly competitive markets including easy entry and product standardization.

Analyze the relationship between a firm's marginal cost curve and its supply curve.

Evaluate the short-run and long-run decisions of firms in response to fixed costs.

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Definitions:

Additive Strategy

An approach where elements are added together to solve problems or make decisions, often seen in mathematics or decision-making processes.

Anchoring

Overestimation of the importance of a factor by focusing on it to the exclusion of other relevant factors.

Framing

The way information is presented so as to emphasize either a potential gain or a potential loss as the outcome.

Representativeness Heuristic

is a cognitive shortcut where the likelihood of an object belonging to a category is assessed based on its similarity to a typical case from that category.