Refer to the Figure Below

question 54

Multiple Choice

Refer to the figure below. If this firm is a price taker and the price of each unit of output is $15, then at this firm's profit-maximizing level of output, it will earn a ______ of ______.

• A)loss; $60
• B)profit; $180
• C)loss; $300
• D)loss; $900

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Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after being associated with an unconditioned stimulus, elicits a conditioned response.

Conditioned Response

A learned reaction to a conditioned stimulus that occurs because of previous conditioning, distinguished from unconditioned response.

Unconditioned Stimulus

An Unconditioned Stimulus is any stimulus that naturally triggers a response without any prior learning or conditioning.

Unconditioned Response

An involuntary, instinctive reaction to an external stimulus that takes place without the need for prior training or conditioning.