When the Price of a Good Is High, Selling the Good

question 27

True/False

When the price of a good is high, selling the good is profitable, and so the quantity supplied is large.

---

Definitions:

Operant Behavior

Behavior that is controlled by consequences, including reinforcement or punishment, which alter the likelihood of the behavior being repeated.

Acquisition

The process of acquiring new information or learning new behaviors.

Extinction

In psychology, the gradual weakening and eventual disappearance of a learned response, typically as a result of the discontinuation of reinforcement.

Lakeshore Property

Real estate that is located directly adjacent to a lake, often highly valued for its scenic views and access to water activities.