A Firm Faces the Demand for Its Product, , as Shown

question 36

Multiple Choice

A firm faces the demand for its product, , as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC = LAC = $12 per unit. Answer Questions .
-At the profit-maximizing uniform price, the firm earns economic profit of __________ when it engages in uniform pricing.

• A) $3,872
• B) $4,728
• C) $4,874
• D) $5,428
• E) none of the above

---

Definitions:

Variable Interval Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable amount of time has passed.

Fixed Interval Schedule

A reinforcement schedule in operant conditioning where rewards are delivered at fixed intervals of time, provided the appropriate response is made.

Intermittent Reinforcement

A conditioning schedule where a response is only sometimes rewarded, leading to more resilient behavior compared to continuous reinforcement.

Continuous Reinforcement

A reinforcement schedule in which a reward follows every correct response, aiding in the rapid learning of a behavior.