When the Price Elasticity of Demand Is ________, Demand for the Good

question 83

Multiple Choice

When the price elasticity of demand is ________, demand for the good is inelastic.

• A)equal to infinity
• B)greater than 1
• C)equal to 1
• D)between 1 and zero
• E)equal to zero

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Definitions:

Extinguished

In behavioral psychology, it refers to the gradual weakening and disappearance of a conditioned response.

Deconditioned

A loss of physical fitness or undoing of the effects of conditioning, often as a result of inactivity or training cessation.

Social Learning

A theory that proposes people can learn new behaviors and attitudes through observation of others' actions and outcomes.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.