Utility Is The

question 16

Multiple Choice

Utility is the:

• A)difference between a firm's total revenue and its total economic cost.
• B)good not adequately provided by a free market and usually provided by the government.
• C)satisfaction consumers derive from their consumption of goods and services.
• D)lowest price that buyers are willing to pay for a given quantity of a good.

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Definitions:

Premack's Probability-Differential Theory

A theory that suggests more probable behaviors will reinforce less probable behaviors.

Response Deprivation Theory

A theory suggesting that behavior can serve as a reinforcement when access to the behavior is restricted and its frequency falls below a preferred level.

Negative Reinforcement

The termination of an aversive event, which reinforces the behavior that preceded it.

Escape

A type of behavior or response aimed at getting away from an unpleasant or aversive situation.