Opportunity Cost May Be Defined as the

question 56

Multiple Choice

Opportunity cost may be defined as the

• A)Goods or services that are forgone in order to obtain something else.
• B)Dollar prices paid for final goods and services.
• C)Dollar cost of producing a particular product.
• D)Difference between wholesale and retail prices.

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Definitions:

Unconditioned Responses

A natural, reflexive reaction to a stimulus that occurs automatically without any need for prior learning.

Conditioned Responses

Reactions that are learned through conditioning, where an individual associates a specific stimulus with a particular response.

Skinner Box

An experimental apparatus designed by B.F. Skinner for studying animal behavior through operant conditioning.

Reinforcer

Any stimulus that strengthens or increases the likelihood of a specific response or behavior by being presented immediately after that response or behavior.