If the Price Elasticity of Demand for Good a Is

question 126

Multiple Choice

If the price elasticity of demand for good A is -1, then a 1% increase in

• A) consumer income will result in a 1% decrease in the demand for good A.
• B) consumer income will result in a 1% increase in the demand for good A.
• C) the market price of good A will result in a 1% increase in the quantity demanded of good A .
• D) the market price of good A will result in a 1% decrease in the quantity demanded of good A .

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Definitions:

Aggressively

In a manner that involves forceful action or determined pursuit, often without regard for others.

Modeling

A method of learning that involves observing and imitating the behavior of others.

Immediate Reinforcement

The delivery of a reward or punishment immediately after a behavior, which strengthens or weakens that behavior's likelihood of recurring.

Baseball Cap

A soft hat with a rounded crown and a stiff bill projecting in front, often worn for casual occasions or sports.