Remembering to Call Your Friend on Her Birthday Would Require

question 3

Multiple Choice

Remembering to call your friend on her birthday would require you to use

• A) retrospective memory.
• B) correlative memory.
• C) anterograde memory.
• D) prospective memory.

---

Definitions:

Socially Optimal Price

A price level for goods or services that considers the wellbeing of society as a whole, often factoring in externalities.

Deadweight Loss

The diminishing of economic efficiency when equilibrium in the free market for a product or service is not attained.

Benevolent

Showing kindness or goodwill, often characterized by acts of generosity or concern for others.

Monopoly Firm

A business that is the sole provider of a good or service in a market, facing no competition, which can lead to higher prices and inefficiencies.