In a Competitive Constant-Cost Industry,an Increase in Consumer Demand Leads

question 177

Multiple Choice

In a competitive constant-cost industry,an increase in consumer demand leads to

• A)a decrease in output
• B)high interest rates
• C)an increase in output
• D)inflation
• E)a decrease in resource employment

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Definitions:

Behavior Modification Programs

A systematic approach to changing behavior using principles of operant conditioning, reinforcement, and punishment.

Reinforcement

In behavioral psychology, a process that strengthens a behavior or increases the likelihood of its repetition through the application of a stimulus.

Fine-tune

Making small adjustments to something in order to achieve the best possible performance or outcome.

Conscientiousness

A characteristic embodying reliability, a well-organized nature, and a profound commitment to responsibilities.