A Consumer Tells Another Consumer, "Every Time I Eat at Big

question 41

Multiple Choice

A consumer tells another consumer, "Every time I eat at Big Bill's Steakhouse, I get poor service." Whether this is True or not, it is the consumer's perception. This is an example of consumers basing future predictions on the quickness and ease with which a particular example of an outcome comes to mind. This scenario would be an illustration of the ________ heuristic.

• A) discrimination
• B) differentiation
• C) availability
• D) screening
• E) representativeness

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on.

Additional Ton

A unit of measure representing an extra quantity of a product or material, beyond the original calculation or expectation, typically used in contexts related to shipping, production, or environmental impact.

Radishes

Edible root vegetables with a peppery flavor, often red, white, purple, or black, used in salads and as a garnish.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision; it represents the benefits missed when choosing one option over another.