What Is a Similarity Between Monopoly and Monopolistic Competition

question 101

Multiple Choice

What is a similarity between monopoly and monopolistic competition

• A)In both market structures, strategic interactions among sellers are important.
• B)In both market structures, there are relatively few sellers.
• C)In both market structures, sellers are price makers rather than price takers.
• D)In both market structures, product differentiation is important.

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Definitions:

Reinforcement

In behavioral psychology, a consequence applied that strengthens an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Latent Learning

Learning that occurs without any obvious reinforcement of the behavior or associations that are learned, becoming apparent only when there is an incentive to demonstrate it.

Variable-Ratio

A schedule of reinforcement where a response is rewarded after an unpredictable number of responses, often used in gambling and behavior training.

Shaping

A method used in behavior therapy and training that involves reinforcing successive approximations of a target behavior until the desired behavior is achieved.