Refer to the Accompanying Table

question 88

Multiple Choice

Refer to the accompanying table.The price elasticity of demand of erasers is ________ when the price is lowered from $1.50 to $1.00.Sellers of erasers will ________ their total revenue from this price change.

• A) perfectly elastic; not change
• B) elastic; raise
• C) elastic; lower
• D) inelastic; lower
• E) inelastic; raise

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Definitions:

Operant Behavior

Behavior that is controlled or influenced by its consequences, including rewards and punishments.

Specific Stimulus

A specific stimulus is a particular environmental factor or event that elicits a response from an organism.

Assessment Methods

Techniques and tools used to evaluate, measure, and document the readiness, learning progress, skill acquisition, or educational needs of students.

Experimental Psychology

A branch of psychology that studies the mind and behavior through controlled experiments and systematic observation.