Lee Is Willing and Able to Pay $250 for an IPhone

question 42

Multiple Choice

Lee is willing and able to pay $250 for an iPhone but is able to buy it for $199.Lee's consumer surplus is:

• A)$0
• B)$51
• C)$199
• D)$250

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Definitions:

Operant

An action that is performed on an environment and has consequences.

Reinforcer

In behavior psychology, a stimulus that increases the likelihood that a specific behavior will occur.

Unconditioned Stimulus

A stimulus that naturally elicits a reflexive response without the need for prior conditioning.

Premack Principle

A principle of reinforcement that states a more probable behavior can be used as a reward for a less probable one to increase the less probable behavior.