Ceteris Paribus,as the Number of Substitutes for a Good Increases,the

question 82

Multiple Choice

Ceteris paribus,as the number of substitutes for a good increases,the

• A)Price elasticity of demand should become smaller.
• B)Price elasticity of demand should become larger.
• C)Cross-price elasticity of demand should become negative.

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Definitions:

Negative Reinforcement

A behavioral concept where the removal of an unfavorable outcome or stimulus increases the likelihood of a behavior being repeated.

Extinction

Within the field of psychology, it refers to the process where a conditioned response slowly diminishes and ultimately vanishes when the conditioned stimulus isn't presented together with the unconditioned stimulus anymore.

Rational Emotive Behavior Therapy (REBT)

Cognitive behavioral therapy in which clients are directly challenged in their irrational beliefs and helped to restructure their thinking into more rational belief statements.

Magnification

In cognitive psychology, a distortion involving exaggerating the importance or significance of events, often seen in anxiety and depression.