You Have Walked in Late to Class, and Your Psychology

question 232

Multiple Choice

You have walked in late to class, and your psychology professor is explaining how one personality theorist sees personality as a relatively stable set of potential responses to various situations. You know immediately that your professor is talking about the theories of __________.

• A) Julian Rotter
• B) B. F. Skinner
• C) Albert Bandura
• D) John Watson

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Definitions:

Average Cost

The total cost of production divided by the number of units produced, indicating the cost per unit.

Consumer Surplus

The bifurcation between what a consumer wishes to pay for a service or good, and what ends up being spent.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual market price of the good.

Deadweight Loss

Deadweight loss refers to the loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market distortion such as taxes or subsidies.