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Steve believes that Carlos is more responsible and capable than Gus because Carlos is from the management team while Gus is the maintenance supervisor.This type of bias known as the ______ effect.
Consumers
Individuals or entities that purchase goods and services for personal use.
Producer Surplus
The difference between the amount producers receive for selling their goods and the minimum amount they would be willing to accept.
Perfect Competition
A theoretical market structure characterized by infinite buyers and sellers, homogeneous products, and perfect information, leading to an optimal allocation of resources.
Public Ownership
The ownership of assets by the government or state, as opposed to private sector ownership, often found in utilities, transportation, and certain industries.
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