While Camping, Ben Was Trying to Put Up a New

question 123

Multiple Choice

While camping, Ben was trying to put up a new tent. He forgot to bring the instructions and was having some trouble. Twice he tried to put it together, but some pieces were left over and the tent quickly fell down. Confused, he stood staring at the tent stakes, poles, ropes, and tarps. Suddenly, through __________, he figured out the problem and set up the entire tent in five minutes.

• A)a cognitive map
• B)a schema
• C)insight
• D)observational learning

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Definitions:

Perfectly Inelastic

A situation where the demand for a product does not change in response to price changes.

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in the product's price.

Total Revenue

The gross income a corporation achieves by trading products or delivering services across a certain span of time.

Elastic Demand

A situation in which the demand for a product is sensitive to price changes, meaning a small change in price leads to a larger change in quantity demanded.