Nonexcludability Cannot Exist at the Same Time as Market Efficiency

question 147

True/False

Nonexcludability cannot exist at the same time as market efficiency in quantity.

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Definitions:

Continuous Reinforcement

A method of learning that entails giving a reward after every desired behavior.

Ratio Schedule

A schedule of reinforcement where a response is reinforced only after a specified number of responses have occurred.

Partial Reinforcement Effect

The tendency for a response that is reinforced after some, but not all, correct responses to be very resistant to extinction.

Continuous Reinforcement

A method of learning in which a behavior is reinforced each time it is performed, leading to faster acquisition of the behavior.