Figure 4-13
-Refer to Figure 4-30. In this market for iPhones, the technology improves while all other factors remain constant. Explain the change(s) in the equilibrium price and quantity.
Definitions:
Wolpe
Joseph Wolpe, a South African psychiatrist known for developing systematic desensitization, a method used in behavioral therapy to overcome phobias and anxiety.
Insight Learning
A form of problem solving where the solution suddenly comes to the individual in a sort of “aha” moment, without trial and error.
Latent Learning
Learning that occurs without reinforcement and is not immediately evident in behavior until a stimulus is presented that calls it into action.
Generalization
The psychological process by which a response is made to a stimulus similar to but not identical to the original conditioned stimulus.
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