If a Price Decrease Results in an Increase in Total

question 121

Multiple Choice

If a price decrease results in an increase in total revenue, then demand is

• A)inelastic.
• B)unit elastic.
• C)perfectly inelastic.
• D)equal to supply.
• E)elastic.

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Definitions:

B.F. Skinner

B.F. Skinner was an American psychologist and behaviorist known for his work in developing the theory of operant conditioning, emphasizing the effects of reinforcement and punishment on behavior.

Unconditioned Response

A natural, automatic reaction to a stimulus, not learned or based on past experience.

Unconditioned Stimulus

In classical conditioning, this refers to a stimulus that naturally and automatically triggers a response without any prior learning.

Neutral Stimulus

A stimulus that initially produces no specific response other than focusing attention, which can become a conditioned stimulus when used in classical conditioning.