The Primary Application of the Model of Perfect Competition Is

question 233

True/False

The primary application of the model of perfect competition is to predict how firms will respond to changes in demand and production costs.

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Definitions:

DRO

Differential Reinforcement of Other behavior, a strategy in behavior modification where reinforcement is provided for any behavior that is not the unwanted behavior.

DRL

Differential Reinforcement of Low Rates, a behavior modification strategy aimed at reducing the frequency of undesired behaviors.

DRL-IRT Schedule

A DRL schedule in which the target behavior is reinforced following a specified interval of time since the previous episode. The interval is determined by calculating interresponse time (IRT). The interval length is gradually increased until the target behavior occurs only after longer periods of time have passed.

Differential Reinforcement

A behavior modification technique that reinforces desired behaviors while withholding reinforcement for undesired behaviors.