If the Price Elasticity of Demand for Peaches Is 1

question 47

Multiple Choice

If the price elasticity of demand for peaches is 1.76 and the price elasticity of demand for apples is 1.59, then consumers are

• A)more sensitive to a change in the price of apples than they are to a change in the price of peaches.
• B)more sensitive to a change in the price of peaches than they are to a change in the price of apples.
• C)more likely to substitute strawberries for peaches than for apples.
• D)more likely to substitute strawberries for apples than for peaches.
• E)eating more peaches than apples.

Understand the factors that influence the likelihood of helping behavior.

Distinguish between evolutionary and social psychological theories of altruism.

Recognize the effects of the bystander's perceptions on their intervention decisions.

Identify conditions under which good moods and empathy promote helping behavior.

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Definitions:

Fast And Frugal Heuristics

Decision-making strategies that use minimal information to make quick and efficient decisions.

Gigerenzer

A psychologist known for his work on heuristics and decision making under uncertainty.

Cognitive Power

Refers to the capacity of the brain to perform higher mental processes of reasoning, remembering, understanding, and problem-solving.

Divided Attention

The ability to process two or more responses or react to two or more different demands simultaneously.