In a Stable, Monopolistically Competitive Market for Restaurants There Are

question 98

Multiple Choice

In a stable, monopolistically competitive market for restaurants there are:

• A) zero profits on average, and consumers are indifferent about where they eat.
• B) zero profits on average, and consumers have strong preferences about where they eat.
• C) positive profits on average, and consumers are indifferent about where they eat.
• D) positive profits on average, and consumers have strong preferences about where they eat.

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Definitions:

Reinforcement

The process of providing stimuli following a behavior, which has the effect of increasing the frequency of the behavior.

Extinction

The decrease and eventual disappearance of a response in the absence of reinforcement.

Mean Length Of Utterance

A measure used in the study of child language acquisition, indicating the average number of morphemes per utterance spoken by a child.

Morphemes

The smallest units of meaning in a language, which can be words or parts of words (like prefixes).