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Describe operant conditioning in your own words. Thinking of operant conditioning, how could you help your friend use rewards as motivation to study more often?
You may be aware that there are three types of profit: accounting profit, economic profit, and normal profit. The difference between the total revenue and the sum of the explicit and implicit costs of an organization results in economic profit. It is..
You have come to realize which you are only buying 3 bottles of wine a week now whereas you utilized to buy six bottles of wine when you made $60,000 a yr. Given this situation you would describe wine as a.
Suppose you start telling your friend about the Price and Wolfers finding that NBA referees appear to be racially discriminatory. Your friend looks at their data, and (correctly) finds that white referees call fewer fouls per 48 minutes on black play..
. a. What is the area between 415 pounds and the mean of 400 pounds? b. What is the area between the mean and 395 pounds?
Does her production process illustrate decreasing returns to scale or a diminishing marginal product of labor?
Suppose that a? firm's only variable input is? labor, and the constant hourly wage rate is ?$30 per hour. The last unit? (hour) of labor hired enabled the firm to increase its hourly production from 250 units to 251 units. What was the marginal cost ..
Research suggests that successful performance on exams requires preparation (that is, studying - L) and rest (that is, sleep - S). Neither by itself produces good exam grades, but in the right combination they maximize your exam performance. What is ..
Which of the following is an example of a good with a high switching cost?
A risk neutral monopoly must set output before it knows for sure the market price. There is a 50% chance the firm’s demand curve will be P=20-Q and there is a 50% chance it will be P=40-Q. The marginal cost of the firm is MC=Q. The expected profit-ma..
Consider the chip found at https://www.arrow.com/en/products/23a1024-ep/microchip- technology. a) How many bits does it store? b) How many pins does it have?
Explain how much consumer surplus exists in this market. If a $2.00 excise tax is levied on this good what will happen to equilibrium price and quantity.
A competitive firm’s cost of production is C(Q) = Q3-20Q2+125Q. The firm’s problem is to choose the value of Q$0 that maximizes its profit. If this were a free entry industry, then what would be the long run equilibrium price?
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