Exhibit 5-1 Demand Curve

question 88

Multiple Choice

Exhibit 5-1 Demand curve

In Exhibit 5-1, between points a and b, the price elasticity of demand is:

• A) 0.67.
• B) 1.5.
• C) 2.0.
• D) 1.0.

---

Definitions:

Learning Theory

A framework that explains how individuals acquire knowledge, skills, attitudes, or behaviors through experience, conditioning, or practice.

Associated

Connected or linked with something else in relation to memory, ideas, or phenomena.

Cognitive Learning

A form of learning that involves the use of mental processes and understanding to acquire knowledge and skills.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, emphasizing the consequences of actions.