To Answer the Question,refer to the Following Table Showing a Demand

question 3

Multiple Choice

To answer the question,refer to the following table showing a demand schedule: If price rises from $100 to $150,

• A)arrows representing the price and quantity effects both point upward.
• B)an arrow representing the price effect points upward and is shorter than an arrow for the quantity effect,which points downward.
• C)total revenue moves up as indicated by the direction of the arrow representing the price effect.
• D)the arrow representing the price effect points down and the arrow representing the quantity effect points up.
• E)both c and d

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Definitions:

Weber's Law

A rule which asserts that the minimal discernible change in a stimulus is a constant proportion of the initial stimulus.

Just Noticeable Difference

Just noticeable difference is the minimum difference in stimulation that a person can detect 50% of the time, also known as the threshold of sensory detection.

Grams

A metric unit of mass equal to one thousandth of a kilogram.

Pupil

The part of the eye located in the center of the iris that controls the amount of light entering the eye.