At a Price of $5, Sam Buys 10 Units of a Product;

question 298

Multiple Choice

At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Which of the following is correct about Sam's behavior?

• A) Sam's demand has decreased.
• B) Sam's demand has increased.
• C) Sam's quantity demanded has decreased, and his demand has not changed.
• D) Sam's quantity demanded has increased, and his demand has increased.
• E) Sam's demand has increased, and his quantity demanded has decreased.

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Definitions:

Learning

The process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, or preferences through study, experience, or instruction.

Cognitive Psychology

is the study of mental processes such as "attention, language use, memory, perception, problem-solving, creativity, and thinking."

Tolman's Theories

The psychological theories proposed by Edward C. Tolman, emphasizing the importance of cognitive processes and expectations in learning, suggesting that behavior is purposeful and goal-directed.

Excitatory Potential

The potential of a neuron to become activated and fire an action potential, often influenced by the summation of excitatory and inhibitory inputs.