To Find Her Optimal Consumption Bundle,Vanessa Would Have To

question 130

Multiple Choice

To find her optimal consumption bundle,Vanessa would have to:

• A)calculate the numerical value of the utility she receives from each specific consumption bundle.
• B)rank-order consumption bundles based on the level of utility she receives from each one.
• C)calculate her budget for each consumption bundle and identify the substitution and income effects of each bundle.
• D)choose her bundles in an irrational manner.

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Definitions:

Drug Tolerance

A physiological state resulting from repeated use of a drug, characterized by a diminished effect of the drug at its original dose or the need for a higher dose to maintain effectiveness.

Premack Principle

A psychological principle stating that more probable behaviors will reinforce less probable behaviors, suggesting that if a person wants to perform a less desired activity, it can be motivated by the promise of a more desired activity.

Disequilibrium Principle

A concept in developmental psychology suggesting that cognitive growth occurs through processes of assimilation and accommodation, driven by experiences of imbalance or disequilibrium.

Effective Reinforcer

A stimulus that, when presented after a behavior, significantly increases the likelihood of that behavior occurring again in the future.