When There Is an Excess Quantity Supplied in the Market

question 52

Multiple Choice

When there is an excess quantity supplied in the market

• A) the price of the product will increase, causing a decrease in demand and an increase in supply.
• B) the price of the product will increase, causing a decrease in quantity demanded and an increase in supply.
• C) the price of the product will decrease, causing an increase in quantity demanded and a decrease in quantity supplied.
• D) the price will increase, causing a decrease in demand and an increase in quantity supplied.

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Definitions:

Operant Conditioning

A learning process where behavior is controlled by consequences, including rewards or punishments.

Extinction

In behavioral psychology, the gradual weakening and eventual disappearance of a conditioned response when the conditioned stimulus is no longer paired with the unconditioned stimulus.

Modeling

A technique in behavioral psychology where individuals learn through observation and imitation of others.

Classical Conditioning

A learning procedure where two stimuli are constantly paired; initially, the second stimulus elicits a response which eventually is elicited by the first stimulus alone.