The Water-Jug Problem Demonstrates That One Consequence of Having a Procedure

question 58

Multiple Choice

The water-jug problem demonstrates that one consequence of having a procedure that does provide a solution to a problem is that, if well-learned, it may prevent us from

• A) seeing more efficient solutions to the problem.
• B) being able to solve other problems at all.
• C) understanding why the procedure works successfully.
• D) discriminating between well- and ill-defined problems.

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Definitions:

Elastic Demand

Reflects how the quantity demanded of a good or service changes in response to a change in price; high elasticity indicates demand is highly sensitive to price changes.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to buy.

Perfectly Elastic

A situation in economic theory where the quantity demanded or supplied responds infinitely to changes in price.

Perfectly Inelastic

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