If the Quantity Demanded Exceeds the Quantity Supplied, Then There

question 378

Multiple Choice

If the quantity demanded exceeds the quantity supplied, then there is

• A) a shortage and the price is below the equilibrium price.
• B) a shortage and the price is above the equilibrium price.
• C) a surplus and the price is below the equilibrium price.
• D) a surplus and the price is above the equilibrium price.

---

Definitions:

Continuous Reinforcement

A reinforcement schedule in which every occurrence of the instrumental response (desired response) is followed by the reinforcer.

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed, encouraging a pause after receiving the reward and a higher rate of response as the time for the next reward approaches.

Schedule of Reinforcement

A strategy in behavioral psychology detailing how and when responses will be rewarded.

Operant Conditioning

A learning strategy that involves the use of positive reinforcement and consequences for actions.