Price Elasticity of Demand Is The

question 129

Multiple Choice

Price elasticity of demand is the:

• A) change in the quantity demanded of a good divided by the change in the price of that good.
• B) change in the price of a good divided by the change in the quantity demanded of that good.
• C) percentage change in price of that good divided by the percentage change in the quantity demanded of that good.
• D) percentage change in quantity demanded of a good divided by the percentage change in the price of that good.

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Definitions:

Positive Reinforcers

In behavioral psychology, stimuli that, when presented following a behavior, increase the likelihood of that behavior being repeated.

Negative Reinforcers

In behavioral psychology, an unpleasant stimulus whose removal leads to an increase in the likelihood that a preceding behavior will be repeated in the future.

Negative Reinforcement

A type of operant conditioning that strengthens a behavior by removing an unpleasant stimulus when the behavior occurs.

Tertiary Reinforcement

A form of reinforcement where a stimulus gains its reinforcing power through association with a secondary reinforcer, rather than satisfying a basic biological need.