Holding Everything Else Equal, Total Revenue Increases

question 129

Multiple Choice

Holding everything else equal, total revenue increases

• A)only when quantity increases.
• B)only when price increases.
• C)whenever total costs increase.
• D)when either price or quantity increase.
• E)only when both price and quantity increase.

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Definitions:

Pavlov

A Russian physiologist best known for developing the concept of the conditioned reflex through experiments with dogs, leading to the foundation of classical conditioning in behaviorism.

Law of Effect

A principle suggesting that responses that produce a satisfying effect in a particular situation become more likely to occur again in that situation, while responses that produce a discomforting effect become less likely.

Titchener

Edward Bradford Titchener, an early 20th-century psychologist, known for developing the theory of structuralism, which focused on understanding the structure of the mind through introspection.

Skinner

Renowned psychologist B.F. Skinner, known for his work in behaviorism and development of the theory of operant conditioning.