You See a Driver on the Highway Weaving in and Out

question 24

Multiple Choice

You see a driver on the highway weaving in and out lanes of traffic and driving rather erratically.You make the assumption that this person is a crazy driver who has no regard for the safety of others.However,you are unaware that he is furiously trying to get his sick daughter the hospital.In this instance you have engaged in which of the following?

• A) Hostile attribution bias
• B) False consensus effect
• C) External attribution bias
• D) Trait attribution bias

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Definitions:

Monopolistic Competitor

A business operating in a market structure characterized by many firms selling products that are similar but not identical, allowing for significant differentiation and competition.

ATC Curve

The Average Total Cost curve in economics represents how a firm's total cost per unit of output changes with the quantity produced.

Rival Firms

Companies that compete against one another in the same industry or market for customer base and market share.

Concentration Ratio

A measure of the market share held by the largest firms within an industry, used to assess the level of competition.