The Difference Between the Price at Which a Seller Is

question 1

Multiple Choice

The difference between the price at which a seller is willing and able to sell a given good and the actual price received for the good is

• A)A price floor
• B)A price ceiling
• C)A consumer surplus
• D)A producer surplus

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Definitions:

Conditioned Response

An automatic response established by training to an ordinarily neutral stimulus.

Unconditioned Stimulus

A stimulus that naturally triggers a response without any conditioning or learning process.

Unconditioned Response

An automatic, unlearned reaction to a stimulus, such as salivating when smelling food.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without the need for prior learning.