The Price for Tickets of a Sold-Out Event Increase by 30

question 103

Multiple Choice

The price for tickets of a sold-out event increase by 30% but quantity sold remains unchanged.The price elasticity of demand equals

• A)0.
• B)1.
• C)infinity.
• D)Cannot be determined.

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Definitions:

Generalized Conditioned Reinforcer

A type of reinforcer that has become reinforcing through its association with one or more other reinforcers, often used in operant conditioning.

Primary Reinforcers

Innate reinforcing qualities such as food, water, and relief from pain, which fulfill basic biological needs and do not require learning to be effective.

Unlearned Reinforcer

An unlearned reinforcer, also known as a primary reinforcer, is a stimulus that naturally and intrinsically provides reinforcement or a favorable outcome without the need for learning.

Primary Reinforcer

A primary reinforcer is a stimulus that satisfies basic survival needs without prior learning; examples include food, water, and shelter.