The Owner of a Business Shows Up Randomly Three or Four

question 158

Multiple Choice

The owner of a business shows up randomly three or four times a month and inquires about the employee's health, their families and how they are getting along at work. He also passes out a few extra dollars. The owner is reinforcing his employees on a __________

• A) variable-interval schedule.
• B) fixed-interval schedule.
• C) variable-ratio schedule.
• D) fixed-ratio schedule.

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Definitions:

Equilibrium Price

The price point at which the quantity of goods supplied equals the quantity demanded, resulting in market balance.

Equilibrium Quantity

At the equilibrium price, the volume of goods or services both offered and sought.

Quantity Supplied

The amount of a good or service that producers are willing and able to offer for sale at a given price level in a given time period.

Equilibrium Price

The point at which the demand for a particular good or service matches its supply, ensuring equilibrium in the market.