Rank These Three Items in Terms of the Elasticity of the Demand

question 214

Multiple Choice

Rank these three items in terms of the elasticity of the demand for them at any given price, from most elastic to least elastic: hot beverages, coffee and Peet's Coffee.

• A)hot beverages, coffee, Peet's Coffee
• B)Peet's Coffee, coffee, hot beverages
• C)coffee, Peet's Coffee, hot beverages
• D)coffee, hot beverages, Peet's Coffee

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Definitions:

Classical Conditioning

An instructional approach where repetitively linking two stimuli causes a reaction, at first prompted by the second stimulus, to be elicited by the first stimulus over time.

Imprinting

A form of learning occurring at a particular life stage that is rapid and apparently independent of the outcomes of behavior.

Operant Conditioning

A learning process by which the strength of a behavior is modified by reinforcement or punishment.

Classical Conditioning

The process of acquiring knowledge through the repeated combination of two stimuli, where a response initially caused by the second stimulus is ultimately caused by the first stimulus alone.