If the Price Elasticity of Demand for Food Is Low,an

question 47

Multiple Choice

If the price elasticity of demand for food is low,an increase in supply due to an improvement in technology will result in a ________ price and ________ in total revenue.

• A)higher;a decrease
• B)lower;an increase
• C)higher;an increase
• D)lower;a decrease

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Definitions:

Practical Social Psychology

The application of social psychological principles to practical issues and real-world problems to improve human interactions and society.

Remedial Social Psychology

An area of social psychology focused on understanding and addressing social problems and fostering positive social change.

Learned Helplessness

A condition of a human or animal that has learned to behave helplessly, failing to respond even though there are opportunities for it to help itself by avoiding unpleasant circumstances or by gaining positive rewards.

Expectancy Theory

A psychological theory suggesting that an individual's motivation to engage in an activity is influenced by their expectations of the outcome and the value they place on that outcome.