If the Price of Potato Chips Increases,other Things Being Equal,demand

question 26

Multiple Choice

If the price of potato chips increases,other things being equal,demand for potato-chip dip will:

• A)not change, only the quantity demanded will change.
• B)increase, because the goods are substitutes.
• C)decrease, because the goods are substitutes.
• D)decrease, because the goods are complements.
• E)increase, because the goods are complements.

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Definitions:

Learned Response

A reaction or behavior that an individual acquires through conditioning or experience in response to a specific stimulus.

Neutral Stimulus

A stimulus that initially produces no specific response other than focusing attention, until it is associated with an unconditioned stimulus in classical conditioning.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without the need for prior learning.

Alfred M Landon

An American politician, who was the Republican candidate for President in 1936 but was defeated by Franklin D. Roosevelt.