Suppose Demand Is Perfectly Inelastic,and the Supply of the Good

question 300

Multiple Choice

Suppose demand is perfectly inelastic,and the supply of the good in question decreases.As a result,

• A)the equilibrium quantity decreases,and the equilibrium price is unchanged.
• B)the equilibrium price increases,and the equilibrium quantity is unchanged.
• C)the equilibrium quantity and the equilibrium price both are unchanged.
• D)buyers' total expenditure on the good is unchanged.

Comprehend the concept of shaping behavior through successive approximations.

Recognize the significance of the relationship between behavior and its consequences.

Analyze real-life scenarios to identify examples of operant conditioning.

Understand the impact of reinforcement magnitude, timing, and frequency on the strength of learned behaviors.

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Definitions:

Professionalism

The conduct, behavior, and attitude expected of individuals in a work or business environment, characterized by efficiency, responsibility, and ethical standards.

Self-assessment

The process of evaluating one's own abilities, performance, and qualities.

Time Management Strategies

Techniques and methods used for planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, or productivity.

Procrastination

The action of delaying or postponing tasks or decisions, often leading to stress, anxiety, and reduced productivity.