A Rational Individual Will Never Consume a Unit of a Good

question 51

Multiple Choice

A rational individual will never consume a unit of a good if its

• A) marginal utility is diminishing.
• B) marginal utility is greater than the price of the good.
• C) marginal utility is increasing.
• D) marginal utility is negative.

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Definitions:

Observational Learning

The process of learning behaviors by observing and imitating others, also known as modeling, without needing direct instruction or reinforcement.

Favourable Attitude

A positive or approving view, feeling, or mindset towards an object, person, group, or idea.

Stanford Prison Experiment

A 1971 study conducted by Philip Zimbardo at Stanford University to investigate the psychological effects of perceived power, focusing on the struggle between prisoners and prison officers.

Social Role

The part individuals play as members of a social group, which meets the expectations of that situation or environment.