A real-estate agent is asked by her clients how much they should ask for their house. She just sold a house for $300,000, so she finds herself suggesting an amount within the same range. This is an example of _____________
A) belief perseverance
B) confirmation bias
C) the representativeness heuristic
D) the anchoring effect
Answer: D
Rationale: The anchoring effect occurs when an individual attempts to solve a problem involving numbers and uses previous knowledge to keep (i.e., anchor) the response within a limited range.
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