Exhibit 5-6  Demand Curve for Concert Tickets in Exhibit 5-6

question 19

Multiple Choice

Exhibit 5-6  Demand curve for concert tickets In Exhibit 5-6, if promoters lower their ticket price form $30 to $20, then:

• A) they will receive less money from their ticket sales.
• B) people will continue to buy the same number of tickets.
• C) customers will spend less total money on concert tickets.
• D) both ticket sales and total revenue will rise.

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Definitions:

Imprinting

A rapid learning process that occurs in some animals shortly after birth, leading them to recognize a particular individual or object as something to be followed or avoided.

Critical Period

A specific time during development when the presence or absence of certain experiences has a profound impact on the formation of abilities or characteristics.

Social Cognitive Theory

A theory that posits that learning occurs in a social context with a dynamic and reciprocal interaction of the person, environment, and behavior.

Classical Conditioning

An educational method where a response initially triggered by a second stimulus comes to be triggered by the first stimulus alone, due to the repeated pairing of both stimuli.