Sharon Was Made the Captain of Her Softball Team Due

question 76

Multiple Choice

Sharon was made the captain of her softball team due to her excellent playing skills. However, the fact that she did not display good team management skills and did not cooperate with her teammates was ignored while making her the captain. Which of the following biases is illustrated in this instance?

• A) Fundamental attribution error
• B) Assumed-similarity bias
• C) Self-serving bias
• D) Halo effect

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Definitions:

Resource Prices

The costs associated with acquiring the inputs required for production, such as labor, materials, and capital.

Industry Production

Is the total output of goods and services produced by an industry over a specific period.

Constant-Cost Industry

An industry in which the input costs do not change significantly with changes in output levels, often resulting in stable product prices over time.

Long-Run Equilibrium

A state in which all factors of production and variables in a market are in balance over a longer period, with no external pressures prompting change.