Marcus, Age 12, Wears the Same Clothes and Hairstyle as His

question 33

Multiple Choice

Marcus, age 12, wears the same clothes and hairstyle as his best friends at school. According to Albert Bandura, Marcus is displaying

• A) operant conditioning.
• B) behavior modification.
• C) classical conditioning.
• D) observational learning.

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Definitions:

Consumer Surplus

Consumer surplus represents the discrepancy between what consumers are prepared and capable of spending for a product or service and the actual amount they end up paying.

Artificially Scarce Goods

Products or services whose availability is limited by the seller to increase demand or price, rather than by natural scarcity.

Natural Monopolists

Entities that dominate a market due to inherent advantages, such as economies of scale, which prevent efficient competition.

Average Total Costs

The total of all costs associated with production divided by the number of units produced, giving the cost per unit.