Even Though He Knows Only a Small Percentage of High

question 61

Multiple Choice

Even though he knows only a small percentage of high school athletes go on to professional careers,Charlie believes that he will be drafted by a good Junior team,play for Team Canada in the World Juniors Championship,and then have a career in the NHL.What is Charlie doing

• A) not applying the conjunction fallacy
• B) applying base rates to himself 
• C) not applying base rates to himself
• D) applying the conjunction fallacy

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Definitions:

Demand Curve

A visual chart that illustrates the connection between a product's price and the amount consumers want to purchase.

Price

The monetary value needed to obtain a product, service, or investment.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price over a specific period.

Substitute Goods

Goods or services that serve as alternatives to each other, where a rise in the cost of one results in a higher demand for the other.