When the Price of Coffee Increased from $4

question 334

Multiple Choice

When the price of coffee increased from $4.50 to $5.55, the quantity demanded decreased from 185 units sold to 150 units sold. Using the midpoint method, the price elasticity of demand is

• A) 0.03.
• B) 6.95.
• C) 1.
• D) 0.81.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, encouraging the occurrence of desired behaviors.

B. F. Skinner

An influential American psychologist known for his work in behaviorism and the development of the theory of operant conditioning.

Stimulus Discrimination

The learned ability to differentiate between similar stimuli and respond only to the actual stimuli associated with a conditioned response.

Operant Conditioning

A behavioral conditioning method where the influence of an action is shaped by reward or correction.