Refer to the Diagrams

question 126

Multiple Choice

Refer to the diagrams. With the industry structures represented by diagram

• A)(B), there will be allocative efficiency.
• B)(A), economic profit can persist in the long run.
• C)(B), output will be less than in diagram (A).
• D)(B), output will be the same as in diagram (A).

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, encouraging the subject to associate certain actions with specific consequences.

Observation

The act of closely monitoring or taking notice of something or someone, often used as a method in scientific research and daily learning.

Respondent Conditioning

A form of learning in which an individual develops a reflexive response to a previously neutral stimulus by associating it with another stimulus that already elicits that response.

Direct Reinforcement

The process by which a behavior is strengthened or increased by immediately following it with a positive stimulus or reward.