A Child Who Makes the "A-Not-B Error" with Hidden/lost Objects

question 177

Multiple Choice

A child who makes the "A-not-B error" with hidden/lost objects will

• A)search at the place where the object was last seen.
• B)fail to do any search for the missing object.
• C)start to search, then promptly quit.
• D)search for a hidden object where she previously found it even after she saw it get moved to a new location.

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Definitions:

First Theorem of Welfare Economics

A principle stating that under certain conditions, a market in equilibrium will allocate resources efficiently in a way that maximizes total social welfare.

Competitive Equilibrium

A market state where supply equals demand, leaving no incentive for price changes as long as external conditions remain constant.

Homothetic Preferences

Preferences where if a consumer prefers a bundle of goods A to B, they will also prefer a scaled-up version of A to the same scale-up of B, maintaining the same proportions.

Marginal Rate of Substitution

How quickly a consumer agrees to trade one good for another, aiming to keep their level of pleasure steady.