In Order to Sell More Output Units, What Must a Monopoly

question 311

Multiple Choice

In order to sell more output units, what must a monopoly do?

• A) reduce output price
• B) reduce input price
• C) increase output price
• D) increase input price

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Definitions:

Stimulus Generalization

The process by which a response that has been learned to one stimulus is elicited by a different, but similar, stimulus.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a period of rest, without any further conditioning.

Skinner Box

An experimental apparatus developed by B.F. Skinner for studying operant conditioning in animals, involving levers, stimuli, and rewards.

Operant-Conditioning Chamber

A controlled environment used in behavioral psychology to study animal behavior through rewards and punishments.