Table 4-13 The Demand Schedule Below Pertains to Sandwiches Demanded Per Week

question 216

Multiple Choice

Table 4-13
The demand schedule below pertains to sandwiches demanded per week.
-Refer to Table 4-13. Suppose Harry, Darby, and Jake are the only demanders of sandwiches. Also suppose the following: • x = 2.
• The current price of a sandwich is $3.00.
• The market quantity supplied of sandwiches is 5.
• The slope of the supply curve is 1.
Then there is currently a

• A)shortage of 5 sandwiches, and the equilibrium price of a sandwich is between $3.00 and $5.00.
• B)shortage of 5 sandwiches, and the equilibrium price of a sandwich is $5.00.
• C)surplus of 5 sandwiches, and the equilibrium price of a sandwich is between $3.00 and $5.00.
• D)surplus of 5 sandwiches, and the equilibrium price of a sandwich is $5.00.

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Definitions:

Skinnerian

Relating to the theories of B.F. Skinner, emphasizing behaviorism and the use of reinforcement to modify behavior.

Aggressive Behavior

Actions intended to cause harm or pain to others, often driven by anger or hostility.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Reinforcement

A consequence following a behavior that increases the likelihood of that behavior occurring in the future, can be positive (adding a stimulus) or negative (removing a stimulus).