For Computers and Other Business Equipment, Small Changes in Business

question 28

Multiple Choice

For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller. Industries that face demand behavior of this type are known as:

• A) natural monopolies.
• B) cartels.
• C) cyclical industries.
• D) constant-cost industries.

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Definitions:

Negative Punishment

A behavior modification technique where a desired stimulus is removed following unwanted behavior, with the goal of decreasing the likelihood of the behavior occurring again.

Interval Schedule

In operant conditioning, a reinforcement schedule where rewards are given after a variable or fixed duration of time has passed.

Ratio Schedule

A type of reinforcement schedule in operant conditioning where a response is reinforced after a specified number of responses.

Continuous Reinforcement

A method in behavioral psychology where a desired behavior is reinforced every time it occurs, leading to faster learning.