The Figure Given Below Shows the Demand Curves for Five

question 64

Multiple Choice

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-When the cross-price elasticity of demand for two goods is a positive number, one can correctly conclude that:

• A)the goods are normal goods.
• B)the goods are inferior goods.
• C)the goods are substitutes.
• D)the goods are complements.
• E)total revenue will increase when the price increases.

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Definitions:

Positive Punishment

A method in behaviorism that involves the addition of an unfavorable outcome in order to decrease the likelihood of a behavior occurring in the future.

Negative Reinforcement

The process of increasing a behavior by removing or avoiding a negative outcome or stimulus.

Positive Reinforcement

A process in operant conditioning that increases the likelihood of a behavior by following it with a desirable outcome or reward.

Positive Punishment

Increasing the likelihood of reducing a behavior by adding an unfavorable outcome or event following the behavior.