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Question
Jerry starts his own business even when he is advised by family and friends that it is not a suitable opportunity. His friends feel that the market is uncertain and new entry at this juncture is inadvisable. Jerry soon realizes that his friends were right and he should have taken their advice. In spite of himself, he is forced to admit that the market situation is such that it would take more than a good entrepreneur to survive. This is an example of ________.
A) exploitation
B) anchoring
C) information bias
D) illusion of control
E) reactance
Answer
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