Barb and Ken purchased a house for $300,000 in 2005. When they needed to sell because of a job transfer in 2009, the house was appraised for $250,000 but they put it on the market for $300,000 anyway
The house is still on the market. Behavioral tendencies at work here may include
A) representativeness and narrow framing.
B) overconfidence and representativeness.
C) familiarity bias and self attribution bias.
D) loss aversion and anchoring.
Answer: D
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________ is the practice of sending messages only when consumers express a willingness to become more involved with the brand
A) Relationship marketing B) Permission marketing C) Cause marketing D) Defensive marketing E) Horizontal marketing
Jeremy's, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand
A) composite B) derived C) primary D) latent E) inelastic
Income Summary is a temporary account only used for the closing process.
Answer the following statement true (T) or false (F)
Dallavalle Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: Variable costs per unit: Direct materials$93Fixed costs per year: Direct labor$320,000Fixed manufacturing overhead$2,144,000Fixed selling and administrative expenses$1,364,000 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 32,000 units and sold 31,000 units. The company's only product is sold for $238 per unit.Assume that the company uses a variable costing system that assigns $10 of direct labor cost to each unit that is produced. The unit product cost under this costing system is:
A. $214 per unit B. $93 per unit C. $103 per unit D. $170 per unit