A Linear Demand Curve

question 1

Multiple Choice

A linear demand curve

• A)can have constant elasticity if its slope is more than one.
• B)will have an ever rising total revenue function.
• C)becomes less elastic as price falls.
• D)always has a constant elasticity.

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Definitions:

Feedback

Information provided about the result of a process or activity, used as a basis for improvement.

Moderate Changes

Refers to adjustments or alterations that are neither too small nor too extreme, often considered to be reasonable or sensible.

Reinforcing

Refers to the process of increasing the likelihood of a behavior by following it with a reward or positive outcome.

Habituated

The process by which an individual becomes accustomed to a stimulus after repeated exposure, leading to a decrease in their response to that stimulus.