"Lower Ticket Prices Would Lead to More People Attending Ballgames

question 164

Multiple Choice

"Lower ticket prices would lead to more people attending ballgames." This statement is a

• A) statement assessing the social interest versus the private interest.
• B) normative statement.
• C) positive statement.
• D) macroeconomic statement.
• E) statement that confuses marginal cost and sunk cost.

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Definitions:

Availability Of Information Bias

The cognitive bias that involves over-relying on the information that is most readily available, rather than considering all relevant data.

Vivid

Characterized by strong and clear images or sensations that are easy to recall and describe.

Evaluating Events

The process of assessing or making judgments about events based on evidence, outcomes, or criteria.

Outcome Frames

Perspectives or ways of viewing the potential results of decisions or actions, often influencing how options are evaluated and chosen.