In Each Trial of an Experiment,participants See a Warning Signal

question 59

Multiple Choice

In each trial of an experiment,participants see a warning signal and then,a half-second later,see a pair of letters.The participants press one button if the letters are the same (e.g. ,W W) and a different button if the letters are different (e.g. ,P X) .In 80% of the trials,the warning signal is identical to the letters that will be shown on that trial.Here are the warning signals and the test stimuli presented on Trial 97 of the procedure:
Group 1: warning signal = L;test pair = L L
Group 2: warning signal = U;test pair = L L
Group 3: warning signal = +;test pair = L L
In this setup we should expect the fastest responses from

• A)Group 3 and the slowest responses from Group 2.
• B)Group 1 and the slowest responses from Group 3.
• C)Group 1 and the slowest responses from Group 2.
• D)Group 1 and no difference between Groups 2 and 3.

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Definitions:

Oligopolistic Firms

Companies that operate in an oligopoly, a market structure with a small number of firms that have significant market power, which influences their pricing and production decisions.

Product Differentiation

The approach of identifying unique aspects of a product or service to boost its attractiveness to a designated target market.

Market Power

The ability of a firm to influence or control the terms and conditions of the market to some degree.

Tacit Collusion

An implicit agreement among competitors to set prices or otherwise behave in a cooperative manner, often without explicit communication.