Suppose the Price of a Good Is $6 and Quantity

question 12

Multiple Choice

Suppose the price of a good is $6 and quantity demanded is 10 units. When price decreases to $5, quantity demanded increases to 13 units. What happened to total revenue and what does this indicate?

• A) Total revenue decreased from $65 to $60, indicating that demand is inelastic.
• B) Total revenue decreased from $65 to $60, indicating that demand is elastic.
• C) Total revenue increased from $60 to $65, indicating that demand is inelastic.
• D) Total revenue increased from $60 to $65, indicating that demand is elastic.

Recognize and categorize various family life cycles.

Identify and understand diverse family types.

Recognize factors indicating negative/dysfunctional family dynamics.

Determine the need for interventions based on family dynamics.

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Definitions:

Cognitive Revolution

A significant shift in psychology during the 1950s and 1960s, emphasizing research on how people think, understand, and remember information.

Interpretation

The process of explaining or understanding the meaning of something, often used within various fields such as art, literature, and psychology.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, affecting their development and behavior.

Personality Theory

A system of concepts that aims to explain differences in individuals’ patterns of thinking, feeling, and behaving.