You See on EBay That a Used Xbox 360 Sells

question 66

Multiple Choice

You see on eBay that a used Xbox 360 sells for $100 and a new Xbox 360 sells for $300. Is this an arbitrage opportunity?

• A)Yes, because the market for a used Xbox 360 is not the same as the market for a new Xbox 360.
• B)No, because the market for a used Xbox 360 is not the same as the market for a new Xbox 360.
• C)No, because the market for a used Xbox 360 is a competitive market.
• D)Yes, because the market for a used Xbox 360 is a competitive market.

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Definitions:

Self-Construction

The process by which individuals form and develop their personal identity and sense of self.

Self-Discrepancy

A theory that describes how a mismatch among the actual, ideal, and ought selves relates to psychological discomfort or emotional distress.

Self-Verification

Seeking out information that verifies and confirms what we already know about ourselves.

Prototypes

Generalized and idealized examples of categories or concepts that capture their most typical features.