-The Above Figure Shows a Perfectly Competitive Firm

question 176

Multiple Choice

-The above figure shows a perfectly competitive firm.If the market price is $5,the firm

• A) is making an economic profit.
• B) is making zero economic profit.
• C) will immediately shut down.
• D) will not shut down.
• E) might shut down but more information is needed about the AVC.

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Definitions:

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers an unconditioned response without prior learning.

Discriminative Stimulus

A cue or signal in the environment that indicates that a specific behavior will result in a particular consequence.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without any need for learning.

Primary Reinforcer

An innately reinforcing stimulus, such as one that satisfies a biological need.