When Economists Say the Demand for a Product Has Increased

question 37

Multiple Choice

When economists say the demand for a product has increased, they mean the

• A) demand curve has shifted to the right.
• B) price of the product has fallen, and consequently, consumers are buying more of it.
• C) cost of producing the product has risen.
• D) amount of the product that consumers are willing to purchase at various prices has decreased.

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Definitions:

Lever Press

A method used in behavioral experiments, typically involving animals like rats or pigeons, where a subject is trained to press a lever to receive a reward or avoid a punishment.

Skinner Box

An experimental apparatus used in the study of animal behavior to investigate the principles of operant conditioning.

Responding Rate

The frequency at which a subject performs a designated response in a given period of time, often measured in behavioral experiments.

Steep Slope

An area of land in which the surface inclines sharply, often presenting challenges in terms of construction, navigation, and stability.