Suppose That the Market for Computers Is Dominated by a Single

question 39

Multiple Choice

Suppose that the market for computers is dominated by a single firm, like Dell, that is able to exert influence over prices and output. This situation violates the perfect competition assumption of:

• A) many buyers and sellers.
• B) easy entry and exit.
• C) complete information.
• D) no discrimination.

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Definitions:

Positive Outcomes

Favorable results or benefits resulting from particular actions, behaviors, or interventions.

Instrumental Conditioning

A learning process wherein behavior is modified by the consequences of the behavior, with reinforcement used to increase desirable behaviors and punishment to decrease undesirable ones.

Classical Conditioning

The process of acquiring knowledge by forming connections between a stimulus found in the surroundings and one that arises on its own, which leads to the development of a learned reaction.

Reinforcement

In behavioral psychology, a process that increases the likelihood of a behavior by applying a stimulus after the behavior is exhibited.