A Peck Is of a Bushel

question 82

Multiple Choice

A peck is of a bushel. If the price elasticity of demand for peas is -0.10 when peas are measured in bushels, then when peas are measured in pecks, the price elasticity of demand for peas will be

• A) -0.10.
• B) -0.40.
• C) -0.03.
• D) -0.20.
• E) none of the above.

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Definitions:

Hourly Rate

The amount of compensation or payment received for each hour of work performed.

Behavioral Contrast

The phenomenon where the rate of response to a stimulus changes significantly when the conditions of reinforcement for another stimulus are modified.

Lack of Money

The state of not having sufficient monetary resources, which can affect one’s ability to satisfy basic needs or attain certain goals.

Generalization Gradient

A measure of the degree to which a conditioned response is elicited by stimuli that resemble the original conditioned stimulus.