Assume That a Consumer Has a Given Budget or Income

question 107

Multiple Choice

Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. For this consumer, the opportunity cost of buying one more apple is

• A)0.5 of a banana.
• B)0.8 of a banana.
• C)1 banana.
• D)2 bananas.

---

Definitions:

Experiential

Relating to or based on experience; often used in therapy to denote techniques or approaches that involve active participation and personal experience.

Third Wave Approaches

Third Wave Approaches refer to the latest generation of cognitive-behavioral therapies that integrate mindfulness and acceptance strategies to enhance psychological flexibility.

Humanistic Therapies

Therapy approaches that emphasize self-discovery, personal growth, and the establishment of a client-centered relationship, focusing on the individual's potential.

Traditional Cognitive

Relating to classic theories or models of cognitive psychology that focus on understanding how people perceive, think, learn, and remember information.