If the Price Elasticity of Demand for Radios Is 2

question 111

Multiple Choice

If the price elasticity of demand for radios is 2.5 (dropping the minus sign) , then a 50 percent reduction in the price of radios will lead to

• A)the sale of 200 additional radios.
• B)the sale of 125 percent more radios than before.
• C)the sale of 150 percent more radios than before.
• D)the sale of 25 percent more radios than before.

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Definitions:

Operant Behavior

Behavior that is controlled or influenced by its consequences, including rewards and punishments.

Specific Stimulus

A specific stimulus is a particular environmental factor or event that elicits a response from an organism.

Assessment Methods

Techniques and tools used to evaluate, measure, and document the readiness, learning progress, skill acquisition, or educational needs of students.

Experimental Psychology

A branch of psychology that studies the mind and behavior through controlled experiments and systematic observation.