If the Price of Aluminum Increases 4 Percent, and the Quantity

question 44

Multiple Choice

If the price of aluminum increases 4 percent, and the quantity supplied increases by 1 percent, what is the price elasticity of supply?

• A) -4.0
• B) 4.0
• C) 0.25
• D) 3.0

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Definitions:

Continuous Schedule

In operant conditioning, a reinforcement schedule where every instance of the desired behavior is reinforced.

Observational Learning

Learning that occurs through observing the behavior of others, also known as modeling.

Bandura

Albert Bandura, a renowned psychologist best known for his social learning theory, emphasizing the importance of observational learning, self-efficacy, and self-regulation.

Watson

John B. Watson, an American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior.