Suppose Egg Producers Succeed in Permanently Raising the Price of Their

question 116

Multiple Choice

Suppose egg producers succeed in permanently raising the price of their product by 15 percent, and as a result the quantity demanded falls by 15 percent in the short run. In the long run we can expect the quantity demanded to fall by

• A) 15 percent.
• B) 0 percent.
• C) between 0 and 15 percent.
• D) more than 15 percent.
• E) 100 percent.

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Definitions:

Dispositional Attributions

The tendency to attribute someone's behavior to their internal qualities or personality traits rather than to external factors.

Situational Attributions

The process of attributing behavior to external factors in the environment or situation, rather than to internal personality traits.

Prosocial Behavior

Acts that are intended to benefit others, such as helping, sharing, donating, co-operating, and volunteering.

Religiosity

The degree of religious observance, faith, and devotion an individual exhibits.