-The Above Table Gives the Demand and Supply Schedules for Cat

question 411

Essay

-The above table gives the demand and supply schedules for cat food. If the price is $1.00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?

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Definitions:

Shaping

A method used in behavioral psychology to gradually train a new behavior by reinforcing successive approximations of the target behavior.

Discrimination

Unfair or prejudicial treatment of individuals based on their characteristics such as race, gender, age, or sexual orientation, resulting in denial of opportunities or rights.

Generalization

The process in which a response is elicited by stimuli that are similar to the original conditioned stimulus in classical conditioning.