When You Use the Representativeness Heuristic, You Are

question 157

Multiple Choice

When you use the representativeness heuristic, you are

• A)making frequency estimates based on the ease with which things come to mind
• B)overcoming functional fixedness
• C)mistaking visual images and other forms of mental representations for reality
• D)basing your judgments on the extent to which an event matches your expectations

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Definitions:

Total Product

The total output of goods or services produced by a firm in a given period of time.

Marginal Product

The additional output resulting from using one more unit of a particular input, holding all other inputs constant.

Unit of Labor

A measure of labor input, often referred to as one hour of work by an employee or worker.

Marginal Product

The additional output resulting from the use of one more unit of a production input.