-The Above Figure Shows the Demand Curve for Movie Rentals

question 469

Multiple Choice

-The above figure shows the demand curve for movie rentals from Redbox. If Redbox raised its price from $2.50 to $3.00, between these two prices the price elasticity of demand equals

• A) 1.2.
• B) 0.8.
• C) 2.0.
• D) 0.5.

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Definitions:

Contingency Responding

A learning process where the learner adjusts behaviors based on the presence of specific stimuli and the consequences that follow those behaviors.

Instrumental Conditioning

A learning process in which behavior is modified through the use of rewards or punishments.

Fixed-Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, leading to a high and steady rate of response.

Fixed-Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed, leading to a pattern of responses.