Bob Purchases a Book,and His Consumer Surplus Is $3

question 7

Multiple Choice

Bob purchases a book,and his consumer surplus is $3.If Bob is willing to pay $8 for the book,then the price of the book must be

• A)$3.
• B)$8.
• C)$5.
• D)$11.

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Definitions:

Contingency Management

A behavioral therapy technique that rewards positive behavior and discourages negative behavior by controlling the consequences of those behaviors.

Contingency Management

A type of behavioral therapy where certain behaviors are reinforced by providing or withholding rewards.

Primary Reinforcer

A naturally reinforcing stimulus, such as food or water, that satisfies a basic biological need without prior learning.

Variable-interval Schedule

A reinforcement schedule in which the first response is rewarded after a variable amount of time has passed.