Jonathan Frequently Plays the Slot Machines and Sometimes Comes Out

question 303

Multiple Choice

Jonathan frequently plays the slot machines and sometimes comes out slightly ahead in his winnings. Like all gambling behavior, Jonathan's gambling behavior is on a _____ schedule of reinforcement.

• A) fixed-ratio
• B) fixed-interval
• C) variable-interval
• D) variable-ratio

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Definitions:

Utility-Maximizing

The process by which individuals choose consumption bundles that will give them the greatest amount of satisfaction or utility.

Diminishing Marginal Utility

The decrease in satisfaction or usefulness as additional units of a product are consumed.

Staples

Basic or essential food items or goods that are widely used and regularly consumed by households.

Paper Clips

Tiny segments of twisted wire or plastic designed to keep pages of paper attached.