Scenario: You Walk into a Used Car Lot to Buy

question 72

Multiple Choice

Scenario: You walk into a used car lot to buy your first car. However, you are not sure of the quality of the cars in the lot and expect one-third of them to be of poor quality.
-Refer to the scenario above.Suppose you decide to buy a Toyota Corolla.You value the car at $10,000,but the car dealer values it at $8,500,which is not known to you.What is the minimum price the seller will accept for the car?

• A) $8,500
• B) $7,000
• C) $10,000
• D) $5,000

---

Definitions:

Education Organizations

Institutions or entities involved in providing educational services, whether formal or informal, like schools, colleges, and universities.

Role Congruity Theory

Prejudice against female leaders is the result of an incongruity between the perceived characteristics of women and the perceived requirements of leadership roles.

Leader Categorization Theory

A leadership theory suggesting that people have preconceived notions of what makes a good leader and assess leadership ability by how well someone fits these molds.

Implicit Leadership Theory

A theory that suggests individuals have preconceived notions about what leadership traits and behaviors constitute an effective leader, influencing how they evaluate and respond to leadership.