Refer to the Figure Below

question 109

Multiple Choice

Refer to the figure below. If the relevant curves are MC₁ and MB₂, a rational consumer will acquire ______ units of information, the amount for which marginal benefit for information is ______ its marginal cost.

• A)4; equal to
• B)4; more than
• C)5; more than
• D)5; equal to

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Definitions:

Implicit Memory

A type of memory that enables us to perform tasks without conscious awareness of these previous experiences.

Explicit Memory

A type of long-term memory that involves conscious recollection of previous experiences or information.

Cerebellum

A part of the brain at the back of the skull in vertebrates, which coordinates and regulates muscular activity.

Hippocampus

A structure within the brain critical for the formation of new memories and associated with learning and emotions.