Explicit Costs

question 4

Multiple Choice

Explicit costs:

• A)measure the opportunity costs of the resources supplied by the firm's owners.
• B)are fixed in the short run.
• C)measure the payments made to the firm's factors of production.
• D)are variable in the short run.

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Definitions:

Unconditioned Stimulus

An unconditioned stimulus is a stimulus that naturally triggers a response without the need for prior learning.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually comes to trigger a conditioned response.

Meat Powder

In classical conditioning research, a substance used by Ivan Pavlov that triggered salivation in dogs as an unconditioned stimulus.

Classical Conditioning

An educational procedure involving the repeated pairing of two stimuli, resulting in a reaction initially caused by the second stimulus being provoked by only the first stimulus over time.