In a Market Experiment

question 37

Multiple Choice

In a market experiment:

• A) the seller changes those variables that are anticipated to be determinants of the quantity sold of a product.
• B) consumers fill out questionnaires that ask how they would react if the seller changes those variables that are anticipated to be determinants of the quantity sold of a product.
• C) interviewers fill out questionnaires that ask how consumers would react if the seller changes those variables that are anticipated to be determinants of the quantity sold of a product.
• D) those variables that are anticipated to be determinants of the quantity sold of a product are held constant by the seller while other variables within the demand function are changed.
• E) non-price variables within the demand function are changed to see how consumers will react.

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Definitions:

Classical Conditioning

A method of acquiring behaviors through the regular association of two stimuli; the response at first triggered by the second stimulus is eventually triggered by the first stimulus by itself.

Time Consuming

Requiring a significant amount of time to complete, often more than is desired or anticipated.

Learning

Learning is a process through which experience or practice results in a relatively permanent change in behavior or potential behavior.

Conditioned Taste Aversion

Development of a nausea or aversive response to a particular taste because that taste was followed by a nausea reaction, occurring after only one association.