The Market Demand Curve for Mangos Is

question 238

Multiple Choice

The market demand curve for mangos is

• A) the same as the demand curve of one buyer in a market with many buyers.
• B) upward sloping because rich people can afford more mangos than poor people can buy.
• C) the horizontal sum of the individual demand curves of all the buyers.
• D) the vertical sum of the individual demand curves of all the buyers.
• E) the horizontal average of the individual demand curves of all the buyers.

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Definitions:

ERG Theory

A need-based theory of motivation proposed by Clayton Alderfer, ERG theory involves three rather than five levels of needs, and also allows for someone to regress from a higher-level need to a lower-level need.

Ratio Schedules

Are partial reinforcement schedules in which behavior is reinforced as a function of how many times the behavior occurs—for example, rewarding someone every fifth time a desired behavior occurs.

Continuous Schedules

Work schedules or production plans that operate non-stop, typically 24 hours a day, often applied in industries that require constant operation.

Extinction

Also a term from reinforcement theory, extinction refers to the situation in which a behavior is followed by no consequences and eventually disappears.