If You Paid $100 for a Truckload of Cabbage on Monday

question 66

Multiple Choice

If you paid $100 for a truckload of cabbage on Monday, how much should you be willing to sell it for on Friday, the day before it spoils?

• A) $100
• B) $100 plus normal accounting profit
• C) $50 because it has lost value since Monday
• D) whatever you can get for it

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Definitions:

Modern Racism

A form of prejudice that surfaces in subtle ways when it is safe, socially acceptable, and easy to rationalize.

Minimal Group Paradigm

A psychological framework that demonstrates how individuals can exhibit in-group favoritism and out-group discrimination based on the most trivial criteria for group membership.

Ingroup Favoritism

The tendency to favor members of one's own group over those in other groups in terms of trustworthiness, kindness, and team preference.

Subtyping

The process of classifying members of a category into smaller groups based on specific characteristics.