Examlex
After learning to press five keys,"A" through "E," in alphabetical order,monkeys were given tests in which subsets of two keys were presented.A comparison of the latencies to press the second key revealed that as the number of letters missing between the two test keys increased,(BD) versus (BE) for example,the latency to press the second key _____,suggesting that the monkeys were using mental scanning to perform the task.
Total Revenue Test
A method used in economics to analyze the elasticity of demand by measuring changes in total revenue with variations in price.
Elasticity of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good, reflecting producers' willingness and ability to alter production.
Price Elasticity of Supply
An indicator of the sensitivity of the amount of a product provided to shifts in its price.
Market Period
A very short time frame in economics during which the supply of a good is fixed, meaning it cannot be increased or decreased in response to changes in price.
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