Exhibit 16

question 52

Multiple Choice

Exhibit 16.2.Typically,the sales volume declines with an increase of a product price.It has been observed,however,that for some luxury goods the sales volume may increase when the price increases.The following Excel output illustrates this rather unusual relationship. Refer to Exhibit 16.2.For which two prices are the sales predicted by the quadratic equation are 1700 units?

• A)60.51 and 150.15
• B)61.51 and 151.15
• C)62.51 and 152.15
• D)63.51 and 153.15

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, through which an association is made between a behavior and a consequence for that behavior.

Ladder

A set of steps or rungs between two vertical bars, used for climbing up or down.

Shaping

A method of behavior modification that involves gradually training an organism to perform a specific behavior by reinforcing successive approximations of the target behavior.

Reinforce

To strengthen a behavior by providing a consequence that increases the likelihood of the behavior being repeated.