Market Demand Is the

question 84

Multiple Choice

Market demand is the

• A)sum of the prices that each individual is willing to pay for each quantity demanded.
• B)sum of the quantity demanded by each individual at each price.
• C)sum of the consumer surplus of each individual.
• D)difference between the maximum amount each individual is willing to pay for a good and the market price.
• E)difference between the market price and the maximum amount each individual is willing to pay for a good.

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Definitions:

Conditioned Stimulus

In classical conditioning, a previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response that is initially elicited by the second stimulus is eventually elicited by the first stimulus alone.

Conditioned Response

A learned reaction to a previously neutral stimulus that has become associated with an unconditioned stimulus after conditioning.

Conditioned Stimulus

An initially neutral trigger that, following its association with an unconditioned stimulus, ultimately elicits a conditioned reaction.