Hutch Technology Makes Computer Monitors, Which Sell for $100 Each

question 163

Multiple Choice

Hutch Technology makes computer monitors, which sell for $100 each.What is the opportunity cost of ten monitors?

• A)$1,000.
• B)the other goods that could be produced with the resources that produce the ten monitors 
• C)the profits that Hutch earns when it sells the ten monitors 
• D)the profits that Hutch loses if it does not produce the monitors 
• E)All of the above are correct.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, part of behavioral psychology.

Classical Conditioning

A method of associative learning in which two stimuli are repeatedly correlated; eventually, the response initially due to the second stimulus is provoked by the first stimulus alone.

Self-efficacy

An individual's belief in their own capability to perform actions effectively and achieve desired outcomes.

Vicarious Reinforcement

Learning that occurs by observing the rewards or punishments that another person receives, influencing the observer's future behavior.