If a Price Floor Is Set at $23 in the Market

question 96

Multiple Choice

If a price floor is set at $23 in the market shown in the graph:

• A)a shortage of 37 will occur.
• B)a shortage of 10 will occur.
• C)a shortage of 27 will occur.
• D)no shortage will occur.

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Definitions:

Conditioned Stimulus

A formerly neutral stimulus that, after association with an unconditioned stimulus, comes to produce a conditioned response.

Conditioning Procedure

A process in behavioral psychology used to establish a new response to a stimulus by association with a secondary stimulus.

Reinforce

To strengthen or support, often with additional material or information, making something more effective or durable.

Basketball

A team sport in which two teams, most commonly of five players each, opposing one another on a rectangular court, compete with the primary objective of shooting a basketball through the defender's hoop.