Reference: Ref 4-3 (Table: Equilibrium Price, Quantity) Refer to the Table

question 34

Multiple Choice

Reference: Ref 4-3 (Table: Equilibrium Price, Quantity) Refer to the table. If the price in the market was $12, there would be a:

• A) shortage of 10 units.
• B) shortage of 45 units.
• C) surplus of 10 units.
• D) surplus of 35 units.

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Definitions:

Contiguity

In learning theory, refers to the proximity in time or space between two events, which can influence the association formed between them.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty, often requiring planning for multiple outcomes.

Extinction

the process through which a conditioned response is diminished or eliminated, often due to the conditioned stimulus being presented without the unconditioned stimulus.

Spontaneous Recovery

The reappearance of a conditioned response after a period of lessened response.