Use the Figure Below to Answer the Following Questions

question 68

Multiple Choice

Use the figure below to answer the following questions.

Figure 12.3.4
-Refer to Figure 12.3.4 which shows cost curves of Paul's Picture Frames Inc.The picture frame market is perfectly competitive and the market price is $30 a frame.Paul produces ________ frames each week,makes ________ of total revenue,and makes zero ________ profit

• A)200;$4,000;economic
• B)300;$9,000;normal
• C)200;$4,000;normal
• D)300;$9,000;economic
• E)300;$3,000;economic

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Definitions:

Hierarchy

A hierarchy is a system or organization in which people or groups are ranked one above the other according to status or authority.

Fears

Emotional responses to perceived threats, which can be instinctive or learned through experiences.

Token Economies

A behavior modification system that uses tokens as reinforcement for desired behaviors, which can be exchanged for rewards.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.