Scenario 12-8 Ellie Has Been Working for an Engineering Firm and Earning

question 222

Multiple Choice

Scenario 12-8
Ellie has been working for an engineering firm and earning an annual salary of $80,000.She decides to open her own engineering business.Her annual expenses will include $15,000 for office rent,$3,000 for equipment rental,$1,000 for supplies,$1,200 for utilities,and a $35,000 salary for a secretary/bookkeeper.Ellie will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which she was earning annual interest of $500.
-Refer to Scenario 12-8.According to an economist,which of the following revenue totals will yield Ellie's business $50,000 in economic profits?

• A) $55,200
• B) $100,200
• C) $132,500
• D) $185,700

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Definitions:

Observational Learning

Learning that occurs through observing the behavior of others and the outcomes of those behaviors, without direct personal experience.

Intermittent Reinforcement

A conditioning schedule in which a behavior is reinforced only some of the time, leading to more resistant and lasting behavioral changes.

Continuous Reinforcement

A method of learning that involves rewarding a behavior every time it occurs, leading to faster acquisition of the behavior.

Extinction

In behavioral psychology, it refers to the gradual weakening and eventual disappearance of a conditioned response when the conditioned stimulus is no longer paired with the unconditioned stimulus.