FIGURE 13- 4 the Three Diagrams Below Each Show a Supply

question 77

Multiple Choice

FIGURE 13- 4 The three diagrams below each show a supply curve for oil tankers over a relatively short period of time.

-John Smith plays baseball for $500 000 per year,but if he were not a baseball player,his next best alternative would be to earn $35 000 per year as a sales representative.By playing baseball,Smith is earning economic rent of

• A)zero.
• B)$465 000.
• C)$535 000.
• D)$35 000.
• E)$500 000.

---

Definitions:

Physiological Arousal

The activation of the body's autonomic nervous system, resulting in physical responses such as increased heart rate, sweating, or rapid breathing.

Affective Reactions

Refers to emotional responses individuals have to external stimuli, including feelings of happiness, anger, sadness, or fear.

Emotional Reactions

The spontaneous and instinctive responses we have towards certain stimuli, influenced by our emotions.

Behavioral Component

A part of a psychological model that deals with actions or reactions of an organism in response to external or internal stimuli.