If There Is No Scarcity

question 36

Multiple Choice

If there is no scarcity,

• A) choices are no longer rational.
• B) the opportunity cost of an action would be greater than its sunk cost.
• C) all marginal benefits would equal zero.
• D) an action would have zero opportunity cost.
• E) the marginal cost of an action is greater than its marginal benefit.

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Definitions:

Respondent Behavior

A behavior that occurs as an automatic response to a certain stimulus.

Unconditioned Response

An automatic reaction to a stimulus that occurs naturally without any prior learning.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, which increases or decreases the likelihood of the behavior being repeated, as conceptualized by B.F. Skinner.

Reinforcer

A reinforcer is any stimulus that strengthens or increases the probability of a specific response or behavior by providing a desirable consequence or outcome.