If You Are Trying to Think of Uses for a Balloon and You Cannot Think of Anything Other Than Entertaining Children, Which Tendency Have You Demonstrated

question 97

Multiple Choice

If you are trying to think of uses for a balloon and you cannot think of anything other than entertaining children, which tendency have you demonstrated?

• A)Framing effect
• B)​Maximizing strategy
• C)Functional fixedness​
• D)​Failure to consider base-rate information

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Definitions:

Equilibrium Price

The market price at which the quantity of a good demanded equals the quantity supplied, leading to market stability.

Inverse Demand Function

A mathematical representation showing the relationship between the quantity demanded of a good and its price, typically derived by solving the demand function for price.

Inverse Supply

The inverse supply function represents the relationship between the price of a good and the quantity supplied, expressed as price as a function of quantity, contrasting with the typical supply function which is quantity as a function of price.

Tax

An obligatory fiscal contribution or alternative form of charge enforced by a government body on taxpayers to support government activities and public spending.