What Would Happen to the Equilibrium Price and Quantity of Peanut

question 115

Multiple Choice

What would happen to the equilibrium price and quantity of peanut butter if the price of peanuts went up,the price of jelly fell,fewer firms decided to produce peanut butter,and health officials announced that eating peanut butter was good for you?

• A)Price will fall,and the effect on quantity is ambiguous.
• B)Price will rise,and the effect on quantity is ambiguous.
• C)Quantity will fall,and the effect on price is ambiguous.
• D)Quantity will rise,and the effect on price is ambiguous.

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Definitions:

Aversive Stimulus

A type of stimulus that is unpleasant or unwanted, and can lead to changes in behavior when it is used as a consequence.

Strengthened

Made stronger or more effective; often refers to the enhancement of physical attributes, skills, or mental capacities.

Negative Reinforcement

A behavioral technique in which the removal of an unpleasant stimulus strengthens a behavior or makes it more likely to occur.

Extra Credit

Additional points awarded to students beyond the regular assignments and exams, often to enhance their final grade.