When a Market Is in Equilibrium

question 31

Multiple Choice

When a market is in equilibrium,

• A) everyone has all they want of the commodity in question.
• B) the supply curve has the same slope as the demand curve.
• C) there is no shortage and no surplus at the equilibrium price.
• D) the number of buyers is exactly equal to the number of sellers.

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Definitions:

Negative Reinforcement

A behavior modification method that involves the removal of an unpleasant stimulus to increase the likelihood of a desired behavior.

Cumulative Record

A continuous record that shows the total number of times a response occurs in a given time period.

Steep Slope

A surface of which one end or side is at a much higher level than another, making an angle with the horizontal surface that is more pronounced.

Reinforcement Contingencies

Conditions in which the delivery of rewards or punishments are contingent upon a specific behavior, used to increase or decrease the likelihood of that behavior's occurrence.