Refer to the Following Figure

question 38

Multiple Choice

Refer to the following figure:

-At a price of $10, the point elasticity of demand for D₃ is ________ and marginal revenue is _______.

• A) -5; positive
• B) -0.5; negative
• C) -0.2; negative
• D) -1; zero

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Definitions:

Reward

An incentive or benefit given for completing certain tasks or reaching certain goals, aimed at motivating further action or behavior.

Contingency Of Reinforcement

A principle in behaviorism stating that the effectiveness of reinforcement depends on the situation or conditions under which it is administered.

Positive Reinforcement

A motivational technique in psychology, involving the addition of a rewarding stimulus following a desired behavior, to increase the likelihood of it occurring again.

Pleasant Event

An occurrence that induces positive feelings, satisfaction, or enjoyment.