An Oligopolistic Firm Often Detects a Change in the Demand

question 88

Multiple Choice

An oligopolistic firm often detects a change in the demand for its product by first observing a change in

• A)average cost.
• B)market price.
• C)marginal revenue.
• D)marginal cost.
• E)sales.

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Definitions:

Involuntary Reflexes

Automatic, unconscious body responses to certain stimuli that do not involve the brain's direct command.

Conditioning

A process of behavior modification by which a subject comes to associate a desired behavior with a previously unrelated stimulus.

Handedness

The preference most people show for using one hand over the other for tasks; typically described as being right-handed, left-handed, or ambidextrous.

Hereditary

Pertaining to the passing of traits from parents to their offspring through genes.