A Monopoly Is

question 39

Multiple Choice

A monopoly is

• A) the single buyer of some good or service.
• B) a firm that has control of a market because it is the only seller.
• C) a firm that creates enormous external costs.
• D) a firm that faces intense competition.
• E) a cost of producing a good or service.

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Definitions:

B. F. Skinner

An influential American psychologist known for developing the theory of behaviorism and for his research on operant conditioning.

Operant Conditioning

A learning process in which the probability of a behavior is changed by its consequences, such as rewards or punishments.

Stimulus Generalization

The process by which a conditioned response is made in response to stimuli that are similar to the conditioned stimulus but not identical.

Classically Conditioned

The process by which a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit a similar response.