Casey Is Participating in a Psychology Experiment Where He Is

question 68

Multiple Choice

Casey is participating in a psychology experiment where he is asked to indicate whether he heard a sound or did not hear a sound on successive testing trials.If Casey says he heard a sound,and no sound was presented,his response would be considered a __________ according to signal detection theory.

• A)true positive
• B)false positive
• C)false negative
• D)true negative

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Definitions:

External Costs

Costs that affect parties who are not directly involved in the production or consumption of a good or service, often leading to market failures.

Underproduce

The act of producing less than is demanded or expected, often leading to shortages and increased prices.

Overprice

The act of charging a price for a product or service that is higher than what is considered fair or reasonable.

Industry Curve

A graphical representation showing how the average costs of production change as the total output of an industry changes.