In the Price Range Below Minimum Average Variable Cost,a Perfectly

question 95

Multiple Choice

In the price range below minimum average variable cost,a perfectly competitive firm's supply curve is

• A)horizontal at the market price.
• B)vertical at zero output.
• C)the same as its marginal cost curve.
• D)the same as its average variable cost curve.
• E)none of the above.

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Definitions:

Operant Behaviour

A type of learning where behavior is controlled by consequences, including rewards and punishments.

Conditioning Principles

Conditioning Principles involve the processes of learning associations between environmental stimuli and behavioral responses, integral to both classical and operant conditioning.

Multifactorial

Relating to or determined by many factors or causes, especially regarding disease causation or genetic expression.

Resistance to Extinction

The persistence of learned behavior even after the original conditions that led to its acquisition have been removed.