-In the Above Table, If the Firm Produces 2 Units

question 15

Multiple Choice

-In the above table, if the firm produces 2 units of output, it will

• A) make an economic profit of $9.
• B) make an economic profit of $60.
• C) incur an economic loss of $60.
• D) incur an economic loss of $9.

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Definitions:

Fixed-Ratio Schedule

A reinforcement schedule in behavioral psychology where a response is reinforced only after a specified number of responses have been made.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, encouraging the repetition of desired behaviors.

Set Number

In mathematics, a concept referring to the count or quantity of distinct elements in a set.

Behaviors

Actions or reactions of an individual in response to external or internal stimuli.