________ Established the First Psychological Laboratory in 1879

question 273

Multiple Choice

________ established the first psychological laboratory in 1879.

• A) Joseph Gall
• B) John Locke
• C) William James
• D) Wilhelm Wundt

---

Definitions:

Competitive Equilibrium

A state where supply equals demand within a competitive market, setting the equilibrium price and quantity.

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged.

Marginal Cost

The cost of producing one additional unit of a product.

Bertrand Duopoly

A market structure in which two companies compete on price, each one strategically setting its prices in response to the prices of the other.