Table 17-3 Imagine a Small Town in a Remote Area Where Only

question 457

Multiple Choice

Table 17-3
Imagine a small town in a remote area where only two residents, Maria and Miguel, own dairies that produce milk that is safe to drink. Each week Maria and Miguel work together to decide how many gallons of milk to produce. They bring milk to town and sell it at whatever price the market will bear. To keep things simple, suppose that Maria and Miguel can produce as much milk as they want without cost so that the marginal cost is zero. The weekly town demand schedule and total revenue schedule for milk is shown in the table below:
-Refer to Table 17-3. Suppose the town enacts new antitrust laws that prohibit Maria and Miguel from operating as a monopoly. What will be the price of milk once Maria and Miguel reach a Nash equilibrium?

• A)$14
• B)$12
• C)$10
• D)$8

Explain the complexities involved in two-choice and conditional discrimination tasks.

Evaluate theoretical models (Hull-Spence, Kohler, Sutherland and MacKintosh) of discrimination learning.

Understand the concept of errorless discrimination training and its applications.

Identify the interchangeability of Pavlovian occasion setters with discriminative stimuli.

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Definitions:

Oceanic Trench

Deep, underwater canyons formed by the subduction of one tectonic plate under another at convergent plate boundaries.

Magmatic Belt

A geographic zone that is extensively populated by igneous rocks which have been or are being formed by magmatic processes typically related to tectonic plate boundaries.

Passive Margin

The transition zone between oceanic and continental lithosphere that is not an active plate boundary.

Subduction Zone

The region where one tectonic plate moves under another, into the mantle, typically associated with volcanic arcs and oceanic trenches.