Examlex

Solved

When the Price of Digital SLR Cameras Was $2000, Consumers

question 105

Essay

When the price of digital SLR cameras was $2000, consumers bought 4000.When the price fell to $1200, consumers bought 5000.What was the price elasticity of demand between these two prices, calculated with the midpoint method? Is demand elastic or inelastic?


Definitions:

Response Prevention

Also known as flooding, a behavior therapy in which a phobia is eliminated by forced exposure to the feared stimulus without an aversive consequence.

Headbanging

Repetitive and deliberate striking of one's head against an object or surface, which can be a sign of distress, developmental disorders, or a form of self-injury.

Climbing Behavior

Can refer to the literal climbing activities of animals and humans or metaphorically to the behaviors used by individuals to "climb" socially or professionally.

Fear of Heights

An anxiety disorder characterized by an irrational and excessive fear of heights, known clinically as acrophobia.

Related Questions