The Demand for Electricity Is More Elastic in the Long

question 66

Multiple Choice

The demand for electricity is more elastic in the long run than in the short run because

• A)more electricity can be produced in the long run.
• B)consumers can shift to more efficient electrical appliances in the long run.
• C)government regulation of electricity producers is most effective in the long run.
• D)solar energy will eventually replace electricity in the long run.

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Definitions:

Perceptual Set

A mental predisposition to perceive one thing and not another, influenced by expectations, emotions, and experiences.

Gestalt Psychologist

A psychologist who studies how people perceive and experience objects as whole patterns or configurations, not just as simple sums of their parts.

Negative Afterimages

A visual phenomenon where an image continues to appear in one's vision after the exposure to the original image has ceased.

Opponent-Process Theory

A psychological and neurological model that accounts for a wide range of behaviors, including color vision. This theory suggests that emotions are paired in a way that when one is activated, the other is suppressed.