If a Consumer Is at an Optimum, Consuming X and Y

question 19

Multiple Choice

If a consumer is at an optimum, consuming X and Y, and the price of X decreases, then to get to a new equilibrium the consumer must

• A) purchase less X.
• B) purchase less of both X and Y.
• C) purchase more X.
• D) purchase more of both X and Y.

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Definitions:

UCS

Unconditioned Stimulus; in classical conditioning, it is a stimulus that naturally and automatically triggers a response without prior learning.

Classical Conditioning

A process of learning where two stimuli are continually paired together; the response, initially caused by the second stimulus, is finally caused by the first stimulus alone.

Watson

Pertains to John B. Watson, the American psychologist who founded the behaviorism school of psychology.

Thorndike

Edward L. Thorndike was an American psychologist known for his work in comparative psychology and the theory of connectionism which helped lay the scientific foundation for educational psychology.