For Which of the Following Pairs of Goods Would Most

question 117

Multiple Choice

For which of the following pairs of goods would most people likely have convex indifference curves?

• A)nickels and dimes
• B)left shoes and right shoes
• C)movie tickets and concert tickets
• D)None of the above.

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Definitions:

Classical Conditioning

A conditioning approach where two stimuli are systematically associated; a reaction first elicited by the second stimulus, over time, becomes elicited by the first stimulus.

Disequilibrium Principle

A state or condition where there is a lack of balance or stability, particularly within economic models or physical systems.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, thereby influencing the probability of that behavior being repeated.

Classical Conditioning

An educational method involving the repeated pairing of two stimuli, resulting in a reaction initially provoked by the second stimulus being eventually provoked by the first stimulus.