Explain the Principles of Operant Conditioning,clarifying the Differences Among Positive

question 133

Essay

Explain the principles of operant conditioning,clarifying the differences among positive reinforcers,negative reinforcers,and punishments,and between primary and secondary reinforcers.

Comprehend the relation between the marginal rate of substitution (MRS) and the ratio of prices of goods.

Recognize different types of utility functions and their implications for consumer choice.

Apply the concept of perfect substitutes and complements in consumer's choice theory.

Understand the impact of income changes on the quantity demanded of goods.

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Definitions:

Margin Call

A demand by a broker that an investor deposit additional money or securities to cover possible losses.

Initial Margin

The minimum amount of equity that must be provided by an investor when purchasing securities on margin, acting as a down payment on the purchase.

Maintenance Margin

The minimum amount of equity that must be maintained in a margin account to continue holding an investment, after initiating a position.

Margin Call

A demand by a broker that an investor deposit further cash or securities to cover possible losses in a margin account.