Janet Reads Her Horoscope and Calls the Psychic Hot Line

question 5

Multiple Choice

Janet reads her horoscope and calls the psychic hot line for advice every day. Which would most likely apply to Janet?

• A) Internal locus of control
• B) External locus of control
• C) Tolerance for ambiguity
• D) None of the above

---

Definitions:

Long Run

In economics, a period in which all factors of production and costs are variable, allowing for full adjustment to changes.

Profit

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Loss

An economic condition where expenses exceed revenues, resulting in negative profit.

Price Discrimination

Price discrimination is the strategy of selling the same product at different prices to different groups of consumers, often based on their willingness to pay, location, or purchase volume.