Stephen Is Restoring a Car and Has Already Spent $4,000

question 121

Multiple Choice

Stephen is restoring a car and has already spent $4,000 on the restoration.He expects to be able to sell the car for $5800.Stephen discovers that he needs to do an additional $2,400 of work to make the car worth $5,800 to potential buyers.He could also sell the car now,without completing the additional work,for $3,800.What should he do?

• A)He should sell the car now for $3,800.
• B)He should keep the car since it wouldn't be rational to spend $6,400 restoring a car and then sell it for only $5,800.
• C)He should complete the additional work and sell the car for $5,800.
• D)It does not matter which action he takes since the outcome will be the same either way.

Recognize how individual differences in personality traits affect social interactions and personal outcomes.

Describe the role of personality assessment and trait theory in understanding human behavior.

Explain the influence of socio-economic status and personality on job productivity and health.

Analyze the criticisms and limitations of the five-factor model of personality.

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Definitions:

Natural Thoughts

Thoughts that occur spontaneously, without deliberate effort, often reflecting genuine beliefs or feelings.

Modeling Coping

A therapeutic strategy where individuals learn to manage their stress or anxiety by observing and imitating the coping strategies of others.

Spirituality

A broad concept that involves seeking a connection to something greater than oneself, often related to finding purpose or meaning in life.

Guidelines

Recommended practices or directions established by authority, expertise, or consensus to guide actions or conduct.