The Idea That Behaviors Followed by a "Satisfying State of Affairs

question 211

Multiple Choice

The idea that behaviors followed by a "satisfying state of affairs" tend to be repeated and those that produce an "unpleasant state of affairs" are less likely to be repeated is known as:

• A)Pavlov's law of law of classical conditioning.
• B)Thorndike's law of effect.
• C)Garcia's theory of evolutionary conditioning.
• D)Tolman's theory of latent learning.

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Definitions:

Total Revenue

The total receipts a firm obtains from the sale of goods or services, calculated as the quantity sold multiplied by the price.

Declines

Situations where quantities, values, or levels decrease over a period.

Unregulated Pure Monopolist

A market condition where a single firm dominates the market without any regulatory oversight, controlling the price and supply of a good or service.

MR = MC

A principle in economics that indicates the profit maximizing level of production is reached when marginal revenue equals marginal cost.