A General Quadratic Demand Function Has the Form to Follow $q = c p ^ { 2 } + l p + r$

question 40

Multiple Choice

A general quadratic demand function has the form to follow. $q = c p ^ { 2 } + l p + r$ (c, l, r are constants, $l \neq 0$ )

Obtain a formula for the elasticity of demand at a unit price p.

• A) \(E = c p ^ { 2 } + l p + r\)
• B) \(E = - \frac { 2 } { p + r }\)
• C) \(E = - \frac { p ( 2 c p + l ) } { c \mathrm { p } ^ { 2 } + l p + r }\)
• D) \(E = - l p\)
• E) \(E = \frac { c p + l } { c p ^ { 2 } + l p + r }\)

---

Definitions:

Behavioralist

A behavioralist is a practitioner of behaviorism, focusing on observable and measurable aspects of human behavior.

Reinforcement

In behavioral psychology, a consequence applied to increase the likelihood of a behavior being repeated in the future.

Learning Behavior

The process through which individuals acquire new information or skills through experience, instruction, or study.

John B. Watson

An American psychologist who established the psychological school of behaviorism, advocating for the study of observable behavior.