Use the Figure Below to Answer the Following Questions

question 104

Multiple Choice

Use the figure below to answer the following questions. Figure 3.5.2
Original equilibrium at 1.
-Refer to Figure 3.5.2,which represents the market for beans.If the price of peas,a substitute for beans,rises,and the cost of producing beans decreases,what is the new beans equilibrium,ceteris paribus?

• A)2
• B)3
• C)9
• D)4

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Definitions:

Chunking

A strategy for improving memory by breaking down information into smaller, manageable units or chunks.

Working Memory

A combination of components, including short-term memory and attention, that allow individuals to hold information temporarily as they perform cognitive tasks; a kind of mental workbench on which the brain manipulates and assembles information to guide understanding, decision making, and problem solving.

Explicit Memory

The conscious recall of facts and experiences that one can consciously declare or "declare."

Semantic Memory

A type of long-term memory involving the capacity to recall words, concepts, or numbers, which is essential for the use and understanding of language.