Which of the Following Factors Influence the Extinction Process?​

question 11

Multiple Choice

Which of the following factors influence the extinction process?​

• A) ​punishment prior to extinction
• B) ​reinforcement after extinction
• C) ​A and B
• D) ​none of these

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Definitions:

Product-Variety Externalities

Economic externalities that arise when the introduction of new products benefits consumers by providing a wider array of choices, potentially affecting their utility and the demand for various goods.

Business-Stealing

The negative impact on existing firms when new entrants to the market capture some of their market share, leading to potentially lower profits for the incumbents.

Long Run Entry

The process by which new firms enter a market, adjusting the supply side of the market, typically considering all factors of production as variable.

Social Welfare

Programs and policies designed to enhance the well-being of individuals and communities, often through provision of health, education, and financial support.