For a Price-Taker Firm, Marginal Revenue Is

question 243

Multiple Choice

For a price-taker firm, marginal revenue is

• A) equal to price.
• B) equal to zero when the market is in long-run equilibrium.
• C) equal to the change in total revenue divided by the change in output.
• D) both a and c.

---

Definitions:

Shaping

A training approach where steps that increasingly resemble the targeted behavior are rewarded.

Stimulus Discrimination

The ability to distinguish between similar stimuli and respond differently based on past experiences.

Secondary Reinforcers

Stimuli that acquire their reinforcing properties through association with primary reinforcers and are used to modify behavior.

Biological Needs

Fundamental physical requirements necessary for human survival, including air, food, water, shelter, clothing, warmth, sex, and sleep.