When a Specified Behavior Is No Longer Rewarded or Punished

question 3

Multiple Choice

When a specified behavior is no longer rewarded or punished every time but rewarded or punished on a more random basis, it is which type of schedule of reinforcement?

• A) variable-interval
• B) variable-ratio
• C) partial
• D) continuous

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Definitions:

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the profitability of a business venture beyond basic operating costs.

Unimpeded Entry

A market condition where there are no barriers for new firms to enter and compete in the industry.

Purely Competitive Firm

A company that operates in a market where there are many buyers and sellers, none of which can influence market prices significantly.

Long Run

A period of time during which all factors of production and costs are variable, in contrast to the short run where some are fixed.