​Which of These Is an Example of Hindsight Bias

question 19

Multiple Choice

​Which of these is an example of hindsight bias?

• A)After two people fall in love, they decide it was love at first sight.
• B)​A married couple say they love each other as much as ever.
• C)​A married couple say they had more fun when they were newlyweds.
• D)​A married couple cannot remember their first date.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service supplied is equal to the quantity demanded, leading to market stability where there is no excess supply or demand.

Equilibrium Quantity

The amount of goods or services available and sought after at the balance price.

Scalping

The practice of buying tickets, securities, or commodities for immediate resale at higher prices, often to exploit short-term fluctuations.

Equilibrium Level

The point at which market supply equals market demand, leading to a stable situation where there is neither excess demand nor excess supply.