Which of the Following Observations Is Most Likely an Illustration

question 9

Multiple Choice

Which of the following observations is most likely an illustration of context-dependent learning?

• A) "I haven't been to Athens in years, but I still remember all the great times I had there!"
• B) "Mike has told me his phone number over and over again, but somehow I can't get it into my head."
• C) "Last month I went to my 20th high school reunion. I saw people I hadn't thought about for years, but the moment I saw them, I was reminded of the things we'd done together 20 years earlier."
• D) "I spent hours studying in the library last night preparing for my history midterm. And it really paid off; I did a great job on the exam."

---

Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is distributed to meet the desires of consumers.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, typically measured as the area above the supply curve and below the market price.