Though Sometimes It's a Little Early or a Little Late

question 42

True/False

Though sometimes it's a little early or a little late, your mail almost always arrives around 10:30 every morning. As it gets closer to 10:30, you tend to check the mailbox more often. This is an everyday example of a variable-interval schedule of reinforcement.

---

Definitions:

Rental Price

The cost paid periodically by a lessee to use the assets of another entity.

Marginal Product

The additional output that is produced by using one more unit of a factor of production, all other inputs remaining constant.

Profit

Total revenue minus total cost.

Diminishing Marginal Product

The principle that as more of a variable input is added to a fixed input, the additional output produced from each new unit of input will eventually decrease.