When the Price of a Good Increased by 6 Percent

question 113

Multiple Choice

When the price of a good increased by 6 percent, the quantity demanded of it decreased 3 percent. Most likely, this good ________ and ________.

• A)is a necessity; has poor substitutes
• B)has poor substitutes; is a luxury
• C)is a necessity; has good substitutes
• D)is a luxury; is narrowly defined
• E)is a luxury; has experienced a recent price change

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Definitions:

Reasonable Force

The minimum amount of force necessary to protect oneself, others, or property while remaining legally justified under the circumstances.

Voluntary Manslaughter

The intentional killing of a human being without premeditation or malice, often occurring in the "heat of passion" or under circumstances that partially excuse or mitigate the action.

Murder in the Second Degree

A legal classification for homicides committed with intent but without the premeditation required for first-degree murder.

Criminal Intent

The mental state indicating that an individual intends to commit a crime or is aware that their actions would likely result in a crime.