When people use anchoring and adjustment to estimate something, the adjustment they make when they receive new information is typically:
A. too large.
B. in the wrong direction.
C. highly accurate.
D. too small.
Answer: D
You might also like to view...
Why do school districts sell bonds to the public when they are financing a new school building program rather than sell stock?
What will be an ideal response?
Arturo runs a Taco Bell franchise. He is selling 250 Gordita Supremes per week at a price of $2.75. If he lowers the price to $2.70, he will sell 251 Gordita Supremes
What is the marginal revenue of the 251st Gordita Supreme? If selling the extra Gordita Supreme adds $0.20 to Arturo's costs, what will be the effect on his profit from selling 251 Gordita Supremes instead of 250?
What is the short-run breakeven point of operation in a perfectly competitive market?
Economists use the term capital to describe that factor of production that includes human-made resources such as factories, buildings, machinery and tools
a. True b. False Indicate whether the statement is true or false