Elliott's Credit Card Bill Includes a Minimum Payment Amount

Multiple Choice

Elliott's credit card bill includes a minimum payment amount. Compared to a situation in which a minimum payment amount is not provided, it is likely that Elliott will make a _____ partial payment, reflecting his use of the _____ heuristic.

A) smaller; anchoring and adjustment
B) smaller; representativeness
C) larger; anchoring and adjustment
D) larger; representativeness