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The following graph shows the marginal cost (MC) and marginal benefit (MB) of holding real money balances. The market is initially in equilibrium at £100. Refer to the graph to answer the question. Suppose there is an increase in real incomes. Other things remaining the same, which of the following is true?
Token Reinforcement
A system of behavior modification based on the systematic reinforcement of target behavior, wherein tokens are given as rewards which can be exchanged for desired items or privileges.
Symbolically Represent
To stand for, denote, or signify something through symbols or allegories, allowing for abstract concepts to be conveyed in a understandable manner.
Retain Behavior
The process of maintaining or persevering with certain behaviors over time, often influenced by learning and experience.
Encode
The process of converting information into a form that can be stored in memory.
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