Use the Following to Answer Question 124 -(Table: the Benefit of Producing Gadgets)Use Table: the Benefit of The Benefit

question 39

Multiple Choice

Use the following to answer question 124: $$\begin{array}{l}\text { Table: The Benefit of Producing Gadgets }\\\begin{array} { c c } \hline \text { Quantity of Gadgets } \text { Total Revenue } \\\hline 0 & \$ 0 \\1 & 200 \\2 & 215 \\3 & 225 \\4 & 230 \\5 & 233 \\\hline\end{array}\end{array}$$
-(Table: The Benefit of Producing Gadgets) Use Table: The Benefit of Producing Gadgets.The marginal benefit of consuming gadgets is:

• A) constant and equal to $5.
• B) decreasing at a constant rate of $5.
• C) decreasing.
• D) increasing at a decreasing rate.

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Definitions:

Hindsight Bias

The tendency to report falsely, after the fact, that one has accurately predicted an outcome.

Selection Bias

The bias that occurs when the subjects or conditions chosen for a study do not represent the target population, affecting the validity of outcomes.

Intervention Bias

The tendency to intervene or take action when it might not be necessary, often influenced by the belief that doing something is better than doing nothing.

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.