Which of the Following Is a Real World Example of Using

question 195

Multiple Choice

Which of the following is a real world example of using the response cost technique to change people's behaviors so that they will increase their conservation efforts?

• A)information regarding the number of gallons of water consumed that week
• B)cash back for recycling
• C)an energy tax on gasoline
• D)none of these

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Definitions:

Inverse Demand Function

A mathematical function that expresses the price of a good as a function of the quantity demanded.

Inverse Supply

A concept that illustrates how the quantity of goods supplied by producers decreases as the price decreases, typically represented by an upward sloping curve in economics.

Tax

A compulsory financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.