The Demand for a Movie Ticket Is Likely _____ Price

question 27

Multiple Choice

The demand for a movie ticket is likely _____ price elastic than the demand for a Broadway show ticket because a movie ticket _____.

• A) less; requires a smaller portion of one's income
• B) more; requires a smaller portion of one's income
• C) less; has fewer available substitutes
• D) more; has fewer available substitutes

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Definitions:

Punishment

A consequence applied to decrease or eliminate a behavior or action considered undesirable.

Acquisition

The process of gaining possession or control of another company or business entity.

Extinction

Extinction in behavioral science refers to the gradual reduction and eventual disappearance of a conditioned response when the reinforcement is no longer presented.

Reinforcement Strategy

A technique employed to encourage desired behavior by using incentives or consequences, often used in organizational behavior management.