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Figure: The Demand Curve
(Figure: The Demand Curve) Between the prices of $4 and $5, demand is , and total
revenue will if price increases.
A.elastic; increase
B.elastic; decrease
C.inelastic; increase
D.inelastic; decrease
Crespi
Refers to psychologist Leonard Crespi, known for his work in experimental psychology, especially in motivational research involving rewards.
Hunger Rats
Rats that are used in research studies to investigate the physiological, psychological, and behavioral processes related to hunger and satiety.
Reward
A positive reinforcement that increases the likelihood of a behavior being repeated.
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