Which of the Following Is a Common Mistake Consumers Commit

question 26

Multiple Choice

Which of the following is a common mistake consumers commit when they make decisions?

• A)They take into account nonmonetary opportunity costs but ignore monetary costs.
• B)They are overly pessimistic about their future behavior.
• C)They fail to ignore sunk costs.
• D)They sometimes value fairness too much.

---

Definitions:

Abbreviation

A shortened form of a word or phrase used primarily to save space or time.

Meaning

The meaning or explanation of a term, expression, emblem, or gesture.

Cerebrovascular Accident

A medical term for a stroke, a condition where the blood supply to a part of the brain is interrupted or reduced, causing brain cells to die.

Abbreviation

A condensed version of a word or phrase designed to make communication easier.