Where Does Producer Surplus Get Its Name? That Is, Why

question 179

Essay

Where does producer surplus get its name? That is, why do economists call it a surplus?

Evaluate the credibility and reliability of internet sources.

Distinguish between APA and MLA styles for in-text citations and bibliographic entries.

Identify the correct format of a Works Cited entry according to MLA guidelines.

Understand the purpose and method of in-text citations in MLA and APA styles.

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Definitions:

Conditioned Stimulus

A stimulus which initially doesn't elicit a response but, when associated with an unconditioned stimulus, later results in a conditioned response.

Stimulus Generalization

The process in which a response to a specific stimulus becomes associated with other stimuli that are similar, leading to the same response.

Conditioned Stimulus

A stimulus that initially has no effect but becomes able to provoke a specific response through association with an unconditioned stimulus.

Extinction

In psychology, the process through which a conditioned response decreases or disappears as a consequence of repeated exposure to the conditioned stimulus without the unconditioned stimulus.