Sarah Needs to Solve This Word Problem: a Sweater in a Store

question 70

Multiple Choice

Sarah needs to solve this word problem: A sweater in a store is originally priced at $40, but the price tag is marked "One-half off." The sweater is placed on a rack marked "Five dollars off the sale price." How much does the sweater cost now?
Sarah knows how to find one-half of a number; she also knows how to subtract one number from another. She uses both of these operations to arrive at the correct answer of $15. Which one of the following best describes Sarah's approach to problem solving?

• A) Drawing an analogy
• B) Availability
• C) Working backward
• D) Combining algorithms

Identify the minimum price at which a firm would continue operating in the short run.

Identify the firm's output levels at various price points in the short run.

Determine the firm's actions at different price levels for both the short run and the long run.

Understand the concept of the break-even point and its significance for the firm.

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Definitions:

Cognitive-behavioral Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Meta-analysis

A statistical procedure for combining data from multiple studies to generate an overall conclusion.

Token Economy

A behavioral modification system that uses tokens as a form of reward, which can be exchanged for desirable items or privileges as reinforcement for desired behaviors.

Cognitive-behavioral Therapy

A type of psychological treatment that helps individuals understand the thoughts and feelings that influence behaviors.