Ms Quasimodo in Problem 3 Has the Utility Function U(x

question 5

Multiple Choice

Ms. Quasimodo in Problem 3 has the utility function U(x, m) , where x is her consumption of earplugs and m is money left over to spend on other stuff. If she has $10,000 to spend on earplugs and other stuff and if the price of earplugs rises from $50 to $70, then her net consumer's surplus

• A) increases by 400.
• B) falls by 2,800.
• C) falls by 600.
• D) falls by 800.
• E) increases by 1,600.

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Definitions:

Continuous Reinforcement

A learning process where a behavior is reinforced each time it occurs, leading to faster learning but quicker extinction once reinforcement stops.

Partial Reinforcement

A conditioning strategy where only a subset of responses is rewarded, leading to more resilient behavior than continuous reinforcement.

Partial Reinforcement

A conditioning principle where only some of the responses made are followed by reinforcement, leading to more resistant behavior to extinction.

Unpredictable Number

A number whose value cannot be anticipated or determined due to its random or variable nature.