Holding Everything Else Constant, a Decrease in the Price of Bicycles

question 223

Multiple Choice

Holding everything else constant, a decrease in the price of bicycles will result in

• A)a decrease in the quantity of bicycles demanded.
• B)an increase in the demand for bicycles.
• C)a decrease in the supply of bicycles.
• D)an increase in the quantity of bicycles demanded.

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Definitions:

Reinforcement

In behavioral psychology, a process that increases the likelihood of a behavior being repeated, usually by providing a reward.

E-Mail

A method of exchanging digital messages over the Internet between people using electronic devices.

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed.

Reinforcement

In behavior psychology, a stimulus or event that follows a behavior and increases the likelihood of that behavior occurring again.