Suppose Consumer Tastes and Preferences Shift from Pizza to Tacos

question 100

Multiple Choice

Suppose consumer tastes and preferences shift from pizza to tacos. In the short run case, these changing tastes will result in pizza restaurants ________ pizza prices and taco restaurants ________ taco prices.

• A) increasing; decreasing
• B) decreasing; increasing
• C) decreasing; decreasing
• D) increasing; increasing

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Definitions:

Explicit Memory

Conscious memory: subjects can retrieve an item and indicate that they know the retrieved item is the correct one.

Declarative Memory

Ability to recount what one knows, to detail the time, place, and circumstances of events; often lost in amnesia.

Amnesics

Amnesics are individuals suffering from amnesia, a condition marked by a partial or total inability to recall past experiences.

Implicit Memory Tasks

Cognitive processes that involve the unconscious recall of learned skills, procedures, and conditioning effects.