You Have the Option of Consuming One Cup of Coffee

question 178

Multiple Choice

You have the option of consuming one cup of coffee or two donuts or three oranges. You picked the cup of coffee. Therefore the opportunity cost of this cup of coffee is

• A)the price of the cup of coffee.
• B)the difference in the prices of these three products.
• C)the price of the donuts as they are usually consumed with coffee.
• D)either the donuts or the oranges, whichever you like more.

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Definitions:

Associative Learning

A learning principle that involves forming connections between stimuli or events that occur together in the environment, leading to learning.

Latent Learning

Learning that occurs without immediate reinforcement and is not demonstrated until there is an incentive to show it.

Vicarious Reinforcement Learning

A process by which individuals learn to replicate or avoid behaviors based on the observed consequences of those behaviors for someone else.

Insight Learning

A form of problem solving where the solution is suddenly realized after a period of reflection, rather than through trial and error.