If Price Is Initially Above the Equilibrium Level

question 30

Multiple Choice

If price is initially above the equilibrium level,

• A) the supply curve will shift rightward.
• B) the supply curve will shift leftward.
• C) excess supply exists.
• D) all firms can sell as much as they want.

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Definitions:

Positive Reinforcer

A stimulus which, when presented after a behavior, increases the probability of that behavior being repeated.

Laughing

The action of making spontaneous sounds and movements of the face and body that are the instinctive expressions of lively amusement and sometimes also of contempt or derision.

Cussing

The act of using swear words or profanity in speech or writing, often used to express strong emotions or for emphasis.

Shaping

A method in behaviorism used to train or teach new behaviors by successively rewarding closer approximations to the desired behavior.