When Nadia Is Asked About the Characteristics She Associates with Athletes

question 122

Multiple Choice

When Nadia is asked about the characteristics she associates with athletes, she is easily able to list them. Nadia's response is best described as an

• A) explicit prejudice.
• B) unconscious prejudice.
• C) acknowledged prejudice.
• D) implicit prejudice.

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Definitions:

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues, representing the additional income earned over and above the opportunity costs.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which each seller offers an identical product.

Market Price

Market price is the current price at which an asset or service can be bought or sold in a given market.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit changes as more units are produced.