The Demand for Umbrellas Is Price Inelastic

question 7

Multiple Choice

the demand for umbrellas is price inelastic,

• A)changes in price do not affect the number of umbrellas demanded.
• B)if more umbrellas are sold as the result of a price decrease,total expenditures by consumers on umbrellas will decrease.
• C)the percentage change in price is less than the percentage change in quantity demanded.
• D)the percentage change in quantity demanded is greater than the percentage change in price.
• E)none of the above

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Definitions:

Negative Reinforcement

A behavior modification technique where the removal of an unpleasant stimulus in response to a behavior increases the likelihood of that behavior being repeated.

Unpleasant Stimulus

A stimulus that is undesirable or disagreeable and tends to produce a negative response in an individual.

Compensation

A defense mechanism characterized by efforts to overcome imagined or real inferiorities by developing one’s abilities.

Imagined Or Real Inferiorities

Perceptions or beliefs of being less capable, worthy, or valuable compared to others, regardless of their factual basis.