Compared to Rationing by Prices,non-Price Rationing by Queuing

question 37

Multiple Choice

Compared to rationing by prices,non-price rationing by queuing:

• A)is more efficient in that those who value the good or service most are more likely to get some.
• B)is less efficient in that waiting in line imposes a cost on those waiting in line,with no offsetting benefit to the seller.
• C)is less efficient in that in order to sell more of the good or service,suppliers will have to increase the quality of their product beyond what the consumer desires.
• D)is more efficient in that in order to sell more of the good or service,suppliers will have to increase the quality of their product beyond what the consumer desires.

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Definitions:

Acquisition Training

involves the repeated pairing of a neutral stimulus with an unconditioned stimulus to elicit a conditioned response.

Extinction

The process in psychology where a conditioned response decreases or disappears when the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

Negative Reinforcement

A behavioral conditioning principle where the removal of an undesirable or aversive stimulus following a behavior increases the likelihood of that behavior being repeated.

Aversive Stimulus

A stimulus that is unpleasant or painful, leading to avoidance behavior.