Table 4-3 -Refer to Table 4-3. If These Are the Only Four

question 213

Multiple Choice

Table 4-3
-Refer to Table 4-3. If these are the only four buyers in the market, then when the price increases from $1.00 to $1.50, the market quantity demanded

• A)decreases by 1.75 units.
• B)increases by 2 units.
• C)decreases by 7 units.
• D)decreases by 24 units.

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Definitions:

Self-serving Bias

The tendency to attribute one's successes to internal factors and failures to external factors, protecting self-esteem.

Dispositional Reasons

Explanations for behavior that are attributed to an individual's inherent qualities or personality traits.

Disposition

A person's inherent qualities of mind and character.

Perceptual Defence

The subconscious avoidance or modification of perceiving threatening or emotionally disturbing information to protect the self.