Suppose Your Professor Offers Extra Credit for Every Time Any

question 66

Multiple Choice

Suppose your professor offers extra credit for every time any student says something in class.What would be the main disadvantage of this plan?​

• A)Introverted students will be forced to talk more than they want to.
• B)​Students will be forced to come to class well prepared.
• C)​Class will sometimes not end on time.
• D)​Students will increase the quantity but not quality of their comments.

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Definitions:

Total Revenue

The complete amount of income generated by the sale of goods or services before any expenses are subtracted.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicative of the sensitivity of consumers to price changes.

Demand

The willingness and ability of consumers to purchase goods and services at different prices.

Perfectly Inelastic

A situation where the demand or supply for a good does not change in response to changes in price.