Suppose a Local Photographer Increases His Prices by 8 Percent

question 214

Multiple Choice

Suppose a local photographer increases his prices by 8 percent and quantity demanded decreases by the same percentage.This set of facts indicates that the demand for his services is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.
• E) perfectly inelastic.

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Definitions:

Escape Learning

A form of learning in which an organism acquires a response to terminate an aversive stimulus.

Discrimination

The unfair and biased treatment of people from various groups, particularly based on their race, age, or gender.

Operant Conditioning

A pedagogical strategy where the frequency of a behavior is adjusted using encouragement or suppression.

Negative Reinforcement

A type of operant conditioning that involves the removal of an unpleasant stimulus to increase the likelihood of a behavior being repeated.