When the Quantity Effect Outweighs the Price Effect, a Price

question 13

Multiple Choice

When the quantity effect outweighs the price effect, a price _____ will cause a(n) _____ in total revenue.

• A) increase; decrease
• B) increase; increase
• C) decrease; decrease
• D) All of these could occur.

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Definitions:

Conditioning Process

A learning process in which an individual learns to associate a specific stimulus with a particular response.

Intermittent Pairing

A concept in behavioral psychology where two stimuli are occasionally paired together to produce a conditioned response.

Operant Conditioning

A method of education where the potency of an act is shaped by incentives or sanctions.

Classical Conditioning

Through a repetitive pairing process, a learning method occurs where a response initially triggered by the second of two stimuli becomes triggered by only the first stimulus.