If the Demand for Apples Is Elastic,then an Increase in the Price

question 200

Multiple Choice

If the demand for apples is elastic,then an increase in the price of apples will

• A) increase total revenue of apple sellers.
• B) decrease total revenue of apple sellers.
• C) not change total revenue of apple sellers.
• D) There is not enough information to answer this question.

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Definitions:

Law Of Effect

A principle in psychology that states behaviors followed by positive outcomes are likely to be repeated, and those followed by negative outcomes are not.

Thorndike

An American psychologist known for his work in the development of the theory of connectionism and contributions to educational psychology.

Operant Conditioning

The procedure of influencing the level of a behavior by the use of positive reinforcement or negative sanctions.

Law Of Effect

A principle stating that responses followed by satisfactory outcomes become more likely to occur, and those followed by unsatisfactory outcomes become less likely.