Refer to the information provided in Figure 8.5 below to answer the questions that follow. 
Figure 8.5
-Refer to Figure 8.5. The marginal cost of the third oven is
Definitions:
Representativeness Heuristic
A cognitive shortcut that involves judging the probability of an event by its similarity to a prototype or an example that comes to mind, rather than on objective probability.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.
Confirmation Bias
The propensity to find, interpret, choose, and recollect details in a way that corroborates the existing beliefs or hypotheses of a person.
Hindsight Bias
The tendency to believe, after learning an outcome, that one would have foreseen it.
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