Managers Rely on Extinction to Eliminate Dysfunctional Behaviors Because They

question 23

True/False

Managers rely on extinction to eliminate dysfunctional behaviors because they have control over whatever is reinforcing the behavior and because they can afford the time needed for extinction to work.

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Definitions:

Monopolistically Competitive

A market structure in which many firms sell products that are similar but not identical, and each has some control over its price.

Industry Exit

The process by which businesses leave a particular market or cease operations, often due to unprofitability or strategic realignment.

Herfindahl Index

A measure of market concentration and competition among firms within an industry, calculated by summing the squares of individual firms' market shares.

Four-Firm Concentration Ratio

A measure of market structure that indicates the combined market share of the four largest firms in an industry, used to assess the level of competition.