Explain How a Market Follower Can Gain Advantage from a Market

question 137

Essay

Explain how a market follower can gain advantage from a market leader.

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Definitions:

Dishabituation

The renewal of a response, previously habituated, due to the presentation of a novel stimulus.

Sensitization

The process of becoming more sensitive to a stimulus after exposure; it leads to an amplified response to a preexisting stimulus.

Habituation

The process by which an organism decreases or ceases its responses to a repetitive or prolonged stimulus, indicating a basic form of learning.

Behavioral Contrast

occurs when a change in the conditions of reinforcement for one behavior leads to a change in the rate of responding for another behavior.