If Every Customer Wants to Enjoy the Good of One

question 32

Multiple Choice

If every customer wants to enjoy the good of one producer, and the producer can supply the good to every customer at a low cost, then this is known as:

• A)compensating differentials
• B)the superstar phenomenon
• C)natural monopoly
• D)union wage inflation

---

Definitions:

Defensive Response

Reactions or behaviors that organisms adopt to protect themselves from perceived threats or harm.

Aplysia

A genus of sea slugs used extensively in neurological research due to their simple nervous systems.

Electric Shock

is often used as an aversive stimulus in behavioral experiments, to study learning or modify behavior.

Solomon and Corbit

described the opponent-process theory of motivation and emotion, which explains how the intensity and duration of emotional experiences can change over time with repeated exposure.