An Explicit Cost Is Defined as

question 297

Multiple Choice

An explicit cost is defined as

• A)a cost that does not change as output changes.
• B)a nonmonetary opportunity cost.
• C)a cost that involves spending money.
• D)a nonmonetary accounting cost.

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Definitions:

Fundamental Attribution Error

The inclination to place undue importance on individual traits while overlooking the influence of environmental contexts when evaluating the actions of others.

Conditioned Taste Aversions

A learned association between a specific taste and illness or discomfort, leading to an aversion of that taste in the future.

Systematic Desensitization

A behavioral therapy technique used to reduce phobic disorders by gradually exposing the subject to the anxiety source or its context without any danger, in order to overcome the anxiety.

Vicarious Conditioning

A method of learning behaviors through the observation of outcomes of those behaviors in others, rather than through direct experience.