All of the Following Are Examples of Equilibrium Factor- Price

question 19

Multiple Choice

All of the following are examples of equilibrium factor- price differentials, EXCEPT:

• A) higher pay to a dentist than to a dental hygienist.
• B) the wages earned by labour of varying ability.
• C) the prices of two pieces of land, one with a good supply of water and one without.
• D) the difference in average wages in Toronto and Dryden, Ontario.
• E) an income differential that induces increased rates of entry into the higher paid professions.

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Definitions:

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed, used in the study of behavior.

Variable Ratio

A schedule of reinforcement where a response is reinforced after an unpredictable number of responses, commonly used in gambling.

Fixed Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, commonly used in behavior analysis.

Variable Interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed, encouraging steady behavior.