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Ann [662]
3 years ago
7

Three years ago, the City of Recker committed to build a park and music venue by the river. It was expected to cost $2.5 million

and be paid for from an additional meals tax in the community. The residents pushed back. Local restaurants suffered as people ate out less or patronized restaurants in neighboring communities. The project has stalled, but the town council kept pushing it on. This spring, a flood devastated the venue. The town council appears to have suffered from _______ bias.
Business
1 answer:
Rufina [12.5K]3 years ago
5 0

Answer: C. escalation of commitment

Explanation:

Escalation of commitment bias refers to a situation where an entity continues to invest resources in an endevor that is not working out which means it is not contributing any value but is still being invested in.

The Town Council can see what has happened to the town and how their restaurants have suffered. The project has also stalled and yet they keep pushing it on. They are committed to an endevor that is not working out so this is an escalation of commitment bias.

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Intuition Decision Making model.

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3 years ago
Discuss the notion of alienation as elaborated by Marx​
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Answer:

The alienation that Marx refers to comes into being through the relations of production found in capitalist society. ... The commodities that workers produce through their labor is not their own but ultimately belongs to another and is produced for another. Here alienation is manifested in the product that work produces.

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2 years ago
Which of the following statements are TRUE?
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D) Checkabe Deposits are assets for the bank
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2 years ago
pryor frosted flakes company offers its customers a pottery cereal bowl if they send in 4 boxtops from flakes boxes and $1.00. T
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Answer: $30,000

Explanation:

Company estimates that 60% of boxtops will be redeemed.

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= 300,000 - 220,000

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