In Both the Short-Run and the Long-Run,a Monopoly Is Guaranteed

question 14

True/False

In both the short-run and the long-run,a monopoly is guaranteed to earn positive profits.

---

Definitions:

Conditioned Stimulus

A stimulus that initially does not trigger a response, but after being paired with an unconditioned stimulus, it comes to elicit a conditioned response.

Stimulus Generalisation

The process by which a conditioned response is triggered by stimuli similar to the original stimulus in classical conditioning.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a pause, without any additional conditioning.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, encouraging the occurrence of desired behaviors.