An Animal Trainer Is Trying to Teach a Lion to Perform

question 30

Multiple Choice

An animal trainer is trying to teach a lion to perform tricks for the circus.First,the lion is given food if he sits quietly on a chair.Next,the lion is given food if he raises one paw.Finally,the lion is given food if he gives the trainer a "high-five." In this example,the lion is being trained by

• A)negative reinforcement.
• B)generalization.
• C)punishment.
• D)shaping.

Comprehend the relationship between the scale of production and long-run average cost curve shapes.

Understand the impact of scale changes on total, average, and marginal costs.

Recognize conditions for long-run equilibrium in constant cost industries.

Analyze the implications of long-run average cost curves on industry structure and firm size.

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Definitions:

Compounded Semi-annually

Interest on an investment or loan is calculated and added to the principal two times a year.

Government of Canada Bond

A Government of Canada Bond is a secure investment issued by the Canadian government, which promises to pay the holder a fixed rate of interest over a specific period of time.

Annuity

An annuity refers to a financial mechanism that delivers a steady flow of payments to someone, usually utilized as a revenue stream for individuals in retirement.

Semi-annual Contributions

Payments or deposits made twice a year into a financial account or investment plan.