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Having committed large amounts of manpower and money to his landscaping business, Tony continues to keep the business running despite incurring heavy losses.What is the source of Tony's cognitive bias?
Inefficiency
A situation where resources are not used in the most productive way, leading to waste or a loss of potential value in an economy or system.
Individual Income Taxes
Taxes levied on the income of individuals, with the tax rate often varying according to income levels.
State
A politically organized body of people under a single government, often synonymous with "country" or "nation."
Local Governments
Administrative bodies that govern smaller geographical areas within a country, often responsible for local policies and laws, public services, and community issues.
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