A Manager Believes That He Should Not Hire Older Workers

question 89

Multiple Choice

A manager believes that he should not hire older workers because they can't learn new skills. This belief is an example of ________.

• A)an anchoring bias
• B)a fundamental attribution error
• C)a confirmation bias
• D)a self-serving bias
• E)stereotyping

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Definitions:

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single entity can dictate prices or terms, leading to an efficient allocation of resources.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a stable market condition.

Marginal Cost

The expenditure required to produce an additional single unit of a product or service.

Total Revenue

The total amount of money generated by a business from selling its goods or services, calculated as the unit price multiplied by the quantity sold.