How Can One Allocate a Good That Is Undersupplied Due

question 154

Multiple Choice

How can one allocate a good that is undersupplied due to a binding price ceiling?

• A) Offer it on a first-come, first-served basis.
• B) Ration a certain quantity per household.
• C) Give the good to the friends and family of the producers.
• D) All of these are correct.

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Definitions:

Punishment

A penalty or negative consequence imposed for disobedience, wrongdoing, or other undesirable behavior.

Positive Reinforcement

A technique in behavior management that involves rewarding a desired behavior, thereby increasing the likelihood that the behavior will occur again.

Negative Reinforcement

A method of increasing the probability of a behavior by removing or avoiding a negative condition or stimulus following the desired behavior.

Extinction

In psychology, the diminishing of a conditioned response, occurring when the reinforcement no longer follows the conditioned stimulus; in biology, the end or dying out of a species.