Suppose Sue's Buys a Good for $60 on EBay

question 60

Multiple Choice

Suppose Sue's buys a good for $60 on eBay. If the consumer surplus from the sale is $25, Sue would have been willing to pay:

• A) $35.
• B) $25.
• C) $60.
• D) $85.

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Definitions:

Applied Behavior Analysis

A scientific discipline concerned with applying techniques based on behaviorist principles to modify behavior, particularly in individuals with autism.

Insight Learning

A form of problem-solving that occurs when a solution is suddenly realized after a period of reflection, as opposed to trial-and-error or conditioning.

Latent Learning

The process by which something is learned but not immediately manifested in an observable change in behavior.

Observational Learning

The process of learning behaviors by watching and imitating others, as proposed by Bandura's social learning theory.