Exhibit 4-1 -If the Price of the Good Described in Exhibit 4-1

question 138

Multiple Choice

Exhibit 4-1

-If the price of the good described in Exhibit 4-1 is $1.60, then an economist would expect the

• A)price to decrease to $1.40
• B)price to decrease to $1.50
• C)quantity supplied to increase to 50 units
• D)quantity demanded to increase to 80 units
• E)quantity demanded to increase to 90 units

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Definitions:

Cognitive Appraisal Theory

A model of emotion stating that a person's cognitive response to a situation determines their emotional experience.

Cognitive Dissonance Theory

A theory proposing that people experience discomfort (dissonance) when their beliefs or behaviors are inconsistent, often leading to a change in one to reduce the dissonance.

Cannon-Bard Theory

A theory of emotion that argues emotions and physiological responses occur simultaneously and independently, rather than one causing the other.

James-Lange Theory

A theory of emotion suggesting that emotions occur as a result of physiological reactions to events, implying that physiological arousal precedes the experience of emotion.