In Monopolistic Competition If There Is Profit, There Is

question 152

Multiple Choice

In monopolistic competition if there is profit, there is:

• A) a signal for new firms to enter.
• B) a motive for existing firms to increase prices.
• C) proof that advertising works.
• D) a motive for existing firms to decrease prices.
• E) product differentiation.

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Definitions:

Generalization Gradients

In learning theory, the range and degree to which a learned response is produced to stimuli that vary from the original conditioned stimulus.

Discrimination Training

The process in behavioral psychology of training an organism to respond differently to distinct stimuli, enhancing its ability to distinguish between them.

Inhibitory Generalization

The process by which an organism learns to inhibit responses to stimuli that are similar to a conditioned stimulus that signals an aversive event.

Training Stimulus

A specific condition or event presented during training to elicit and reinforce desired behaviors or responses.