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If a Small Percentage Increase in the Price of a Good

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If a small percentage increase in the price of a good results in a rather large percentage increase in the quantity supplied of the good, supply is said to be


Definitions:

Self-efficacy

An individual's belief in their ability to succeed in specific situations or accomplish a task.

Premack Effect

A concept in psychology that suggests behaviors with a higher likelihood of occurring can strengthen behaviors that are less likely to occur.

Fixed-interval Schedule

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed, in behaviorist psychology.

Violently Attacked

Violently attacked describes an act of physical aggression aiming to inflict harm or damage on a person or object.

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