Looking at Diana's Photos on a Social Networking Site,Simon Assumes

question 65

Multiple Choice

Looking at Diana's photos on a social networking site,Simon assumes that she is an extravert.When they meet for the first time,Simon elicits a talkative and energetic response from an otherwise quiet and dull Diana.This scenario most likely exemplifies _____.

• A)balancing selection
• B)expectancy confirmation
• C)the imagination inflation effect
• D)the self-serving bias

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Definitions:

Consumer Preferences

These are the subjective likes, dislikes, desires, and needs that motivate buying decisions and are influenced by various sociocultural and economic factors.

Marginal Rate of Substitution

The rate at which a consumer can substitute one good for another while maintaining the same level of utility.

Rational Consumers

Individuals who seek to maximize their utility or satisfaction from the consumption of goods and services, making decisions based on available information and rational criteria.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, illustrating varying combinations of two products that give equal satisfaction and utility.