If You Rate a Student Highly on All Traits on a College

question 498

Multiple Choice

If you rate a student highly on all traits on a college entrance form because the student is very likeable and attractive, you are illustrating

• A)the halo effect.
• B)the self-promoting phenomenon.
• C)public self-consciousness.
• D)the Barnum effect.

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Definitions:

Average Cost Pricing

A pricing strategy where the price is set based on the average cost per unit produced, including fixed and variable costs.

Profit-Maximizing

The process of increasing financial gain to the highest possible level given the constraints of the market.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Price Regulation

Government or regulatory authority control over the pricing of goods and services, often to prevent excessively high prices or monopolies.