If You Increase Your Consumption of Soda by One Additional

question 79

Multiple Choice

If you increase your consumption of soda by one additional can a week, your marginal benefit of this last can is $1.00. The ________ of this last can of soda is $1.00.

• A) value
• B) price
• C) opportunity cost
• D) marginal cost

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Definitions:

Two-Track Mind

The concept that the human mind simultaneously processes information on both an unconscious and conscious level.

Masking Stimulus

A stimulus that interferes with the perception of another stimulus, often used in psychological experiments to test sensory thresholds or attention.

Priming

The process by which recent experiences increase the accessibility of a schema, trait, or concept, influencing responses.

Weber's Law

A principle in psychology stating that the smallest perceptible change in a stimulus is proportional to the magnitude of the original stimulus.