When the Market Does Not Lead to an Optimal Allocation

question 144

Multiple Choice

When the market does not lead to an optimal allocation of resources,there must be

• A)Too much regulation.
• B)A market failure.
• C)Proper antitrust laws in place.
• D)A competitive market structure.

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Definitions:

Monthly Reward

A regular incentive or benefit given once a month, often as recognition for achievements or maintained standards.

Classical Conditioning

A conditioning strategy where two stimuli are repeatedly linked; a response that initially arises from the second stimulus ultimately arises from the first stimulus alone.

Learned Association

A behavioral principle where a subject starts associating a previously neutral stimulus with a significant one after repeated pairing.

Fixed-Interval Schedule

A type of operant conditioning reinforcement schedule where rewards are delivered at predictable time intervals, provided that the correct response is made.