Table 17-8 For a Certain Small Town, the Table Shows the Demand

question 152

Multiple Choice

Table 17-8
For a certain small town, the table shows the demand schedule for water. Assume the marginal cost of supplying water is constant at $4 per bottle and there are no other costs.
-Refer to Table 17-8. If there were only one supplier of water, what would be the price and quantity?

• A)The price would be $7 per gallon and the quantity would be 600 gallons.
• B)The price would be $6 per gallon and the quantity would be 800 gallons.
• C)The price would be $5 per gallon and the quantity would be 1000 gallons.
• D)The price would be $4 per gallon and the quantity would be 1200 gallons.

---

Definitions:

Conditioning Principles

Fundamental concepts in psychology that explain how organisms learn from the association between stimuli and responses, pivotal in classical and operant conditioning.

Instinctive Drift

The tendency of an animal to revert to instinctive behaviors that interfere with a conditioned response.

Innate Response

A built-in reaction to stimuli that an organism is genetically programmed to exhibit, also known as an instinct.

Conditioning Process

The method by which organisms learn to associate different stimuli and behaviors through reinforcement or punishment.