The Long Run Is the Period During Which Fixed Costs

question 85

True/False

The long run is the period during which fixed costs do not change.

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Definitions:

Operant Conditioning

A learning process in which the consequences of a behavior influence the likelihood of that behavior being repeated.

Classical Conditioning

The method of learning by forming associations between a stimulus found in the environment and one that occurs intrinsically.

Law of Effect

A psychological principle stating that behaviors followed by positive outcomes are likely to be repeated, while those followed by negative outcomes are not.

Thorndike

Refers to Edward L. Thorndike, an American psychologist famous for his work on learning theory that led to the development of operant conditioning within behaviorism.