Andrew Wants to Increase the Time That He Studies Each

question 42

Multiple Choice

Andrew wants to increase the time that he studies each week,and he writes a behavioral contract in which he will be the one to implement the contingencies.The contract states that he can go to a party on the weekend if he studies 15 hours during the week.Andrew studies for only 10 hours during the week,but still goes to a party on the weekend.This is referred to as:​

• A) ​modifying the contingencies
• B) ​short-circuiting the contingencies
• C) ​consequence avoidance
• D) ​consequence delay

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Definitions:

Indifference Curves

Graphical representations in microeconomics that show different bundles of goods between which a consumer is indifferent.

Maximize Utility

The process of allocating resources to obtain the highest possible satisfaction or utility.

Consumer Equilibrium

A state in which consumers are maximizing their satisfaction, with no incentive to alter their allocation of expenses across goods or services.

Marginal Utility

The change in total satisfaction or utility that a person receives from consuming one additional unit of a good or service.