Jessica's Preferences for Peanut Butter and Jelly Are Represented by the Utility

question 32

True/False

Jessica's preferences for peanut butter and jelly are represented by the utility function U(p, j)= min{2p, 5j}.If prices and income change, but her old consumption bundle lies somewhere on her new budget line, she will not change her consumption.

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Definitions:

Negative Reinforcement

A behavioral principle where the removal or avoidance of an unpleasant stimulus increases the likelihood of a behavior being repeated.

Instinctive Drift

The tendency of an animal to revert to instinctive behaviors that interfere with learned behaviors from operant conditioning.

Operant Responding

A method of learning that occurs through rewards and punishments for behavior, emphasizing the effect of consequences on behavior in the future.

Temper Tantrums

Explosive emotional outbursts, usually in response to frustration, common among young children.