When Price Is Too High, We See

question 117

Multiple Choice

When price is too high, we see

• A) excess supply.
• B) shortages.
• C) frustrated buyers.
• D) long lineups.
• E) falling inventories.

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Definitions:

Conditioning Stimulus

A neutral stimulus that, when paired with an unconditioned stimulus, leads to a conditioned response through the process of classical conditioning.

Behavioral Contrast

The phenomenon where the rate of response varies according to a change in reinforcement conditions for another behavior.

Hourly Rate

A payment rate set for one hour of work, often used to calculate wages for part-time or freelance employment.