Figure 11-13 -Refer to Figure 11-13.The Lines Shown in the Diagram Are

question 27

Multiple Choice

Figure 11-13

-Refer to Figure 11-13.The lines shown in the diagram are isocost lines.If the price of labor is $50 per unit, what is the price of capital along the isocost CE?

• A)$400 per unit
• B)$100 per unit
• C)$25 per unit
• D)insufficient information to answer question

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Definitions:

Self-Serving Bias

The tendency to attribute one’s successes to dispositional causes and one’s failures to situational causes.

Dispositional Attribution

Attributing a behavior to some internal cause, such as a personal trait, motive, or attitude; an internal attribution.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later on.

Impression Formation

The psychological process by which individuals form opinions and judgments about other people based on available information.