Use the Following to Answer Questions

question 284

Multiple Choice

Use the following to answer questions:
Figure: Water Works
-(Figure: Water Works) Look at the figure Water Works, which describes a small town's water works, a natural monopoly. If regulators require the water works to charge the price that eliminates deadweight loss, the water works will serve _____ customers.

• A) 200
• B) 300
• C) 375
• D) 400

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Definitions:

Positive Reinforcement

A process in psychology that involves increasing the likelihood of a behavior by following it with a desirable consequence or reward.

Negative Reinforcement

A process in behavioral psychology where the removal of an unpleasant stimulus strengthens or increases the probability of a response.

Conditioned Taste Aversion

The learned avoidance of a certain food or drink because it has been associated with an unpleasant or aversive experience.

Higher-Order Conditioning

A form of conditioning where a stimulus is paired with a previously conditioned stimulus, leading to a response even without the presence of the original, unconditioned stimulus.