Suppose Demand Can Be Written as PQ = 1000

question 26

Multiple Choice

Suppose demand can be written as PQ = 1000.The price elasticity of demand is)

• A) increasing as price rises.
• B) decreasing as price rises.
• C) constant regardless of prices and perfectly elastic.
• D) constant regardless of prices and unit elastic.

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Definitions:

Stimulus Discrimination

The ability to differentiate between similar stimuli and respond appropriately to each.

Secondary Reinforcer

A stimulus that has acquired reinforcing properties through association with a primary reinforcer, such as money becoming valuable through its ability to purchase food or other basic needs.

Salient

Refers to something that stands out prominently or is most noticeable or important.

Shaping

A method of behavior modification that uses rewards to gradually guide an individual's actions toward a desired behavior.