The Idea That We Can Learn from Seeing the Actions

question 24

Multiple Choice

The idea that we can learn from seeing the actions of others is known as

• A) extinction.
• B) observational learning.
• C) insight learning.
• D) cognitive dissonance.
• E) the Garcia effect.

---

Definitions:

Marginal Costs

The additional cost incurred in the production of one more unit of a good or service.

Fixed Costs

Costs that do not change with the amount of goods or services produced, such as rent, salaries, or insurance.

Accounting Profit

Profits as shown on a company’s financial statements. Accounting profit does not necessarily correspond to real or economic profit.

Variable Costs

Costs that vary directly with the level of production or a company's output, such as materials and labor.