Excludability Matters Because It

question 80

Multiple Choice

Excludability matters because it:

• A) allows owners to set an enforceable price on a good.
• B) allows consumers to control the price of a good.
• C) creates a perceived scarcity that allows the seller to keep the price artificially high.
• D) creates a perceived scarcity that causes buyers to have an inelastic demand for the good.

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Definitions:

UCS

Unconditioned Stimulus, a stimulus that naturally and automatically triggers a physiological reflex or emotional response without prior learning.

UCR

Unconditioned response, a natural and automatic reaction to an unconditioned stimulus without prior learning or conditioning.

CS

Short for Conditioned Stimulus, it is a term used in classical conditioning to denote a previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually triggers a conditioned response.

Reinforced Schedule

A concept in operant conditioning that outlines how often a behavior is reinforced, influencing the frequency and predictability of the behavior.