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In a study described in Chapter 7, students gave a lower intensity of shock to black learners than to white ones. Later, the students overheard the learner making derogatory comments about them, and this probably made them angry. When given a chance to shock the learner again, the students:
Price Elastic
Relating to the responsiveness of the demand or supply of a good or service to changes in its price.
Price Elasticity
A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level.
Inelastic
A description of a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.
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