Which of the Following Occurs When a Market Is in Equilibrium

question 66

Multiple Choice

Which of the following occurs when a market is in equilibrium?

• A)quantity supplied is equal to quantity demanded
• B)supply is equal to demand.
• C)the price of the good will tend to rise, all else held constant.
• D)the price of the good will tend to fall, all else held constant.

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Definitions:

Variable-ratio Schedule

A reinforcement schedule in behavioral psychology where a response is rewarded after an unpredictable number of responses, enhancing its effect on behavior.

Reinforcement

A concept in behaviorism that refers to any event that strengthens or increases the likelihood of a behavior being repeated.

Fixed Number

A fixed number usually refers to a constant quantity or value that does not change in a given context, such as a fixed number of repetitions in an experiment.

Fixed-ratio Schedule

A schedule of reinforcement where a response is reinforced only after a specified number of responses have been made.