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Which of the following is the most important and frequently analyzed aspect of a feasibility study?
Anchoring
A cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered when making decisions.
Context
Context refers to the circumstances or conditions that surround a particular event, decision, or phenomenon, affecting its meaning or interpretation.
Utility Maximization
The process by which consumers allocate their income in a way that maximizes their overall satisfaction.
Rules of Thumb
Simple, general principles or guidelines that are used to make decision-making quicker, albeit less precise, often based on practical experience rather than theory.
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