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Hamish and Dougal have noticed some examples of conditioning in the border collies that they use on their farm. For example, the dogs have learned to herd sheep toward the barn if they hear a short blast on a whistle. The dogs also start drooling whenever they are allowed into the kitchen of the farmhouse, where they get really juicy scraps to eat. Which of the following describes their dogs' conditioning?
Price Discrimination
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on what the seller believes each customer will pay.
Oligopolistic Pricing
A pricing strategy adopted by companies in an oligopoly, where a few firms dominate the market and prices are often influenced by the actions of competitors.
Monopolistic Pricing
This refers to the practice by a monopolist to set prices higher than in competitive markets because they control a large portion of the market for a particular good or service.
Horizontal Demand
A market demand situation where a small change in price leads to a large change in quantity demanded, often indicative of a highly competitive market.
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