In a Study of Canadian Provincial Court Judges by Palys

question 42

Multiple Choice

In a study of Canadian provincial court judges by Palys and Divorski (1986) ,each judge participant was provided with 5 different criminal cases (and surrounding information) .The judges were asked impose a sentence for each offender and indicate what facts they considered relevant in their decision-making (i.e.,legal objectives,case facts,and demographic information) .What component of the judge's decision-making was the most important predictor of sentencing severity?

• A)Differential weighting of legal objectives
• B)Over-consideration of the race of the defendant
• C)Selective attention to facts only the judge considered relevant
• D)Inconsistent or unclear case facts
• E)An interaction between the gender of the defendant and the type of crime

Recognize different types of utility functions and their implications for consumer choice.

Apply the concept of perfect substitutes and complements in consumer's choice theory.

Understand the impact of income changes on the quantity demanded of goods.

Interpret the implications of specific utility functions (e.g., min, max) on consumption decisions.

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Definitions:

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost, ensuring all costs are covered and a profit is guaranteed.

Absorption Cost

A method of product costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead.

Mark-Up Percentage

Mark-up percentage is the ratio between the cost of a good or service and its selling price, expressed as a percentage over the cost, indicating the profit margin.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment compared to its initial cost.