Which of the Following Statements Is True

question 47

Multiple Choice

Which of the following statements is true?

• A)Only the difference threshold varies from person to person.
• B)Only the absolute threshold is constant for all people.
• C)Both the difference threshold and the absolute threshold are constant for all people at all times.
• D)Both the absolute threshold and the difference threshold vary from person to person over time.

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period of time.

Price

The amount of money expected, required, or given in payment for something.

Correlation Analysis

The study of how variables are related and the measurement of the strength and direction of this relationship.

Linear Relationship

A type of relationship between two variables where a change in one variable is associated with a proportional change in the other variable.