As a Result of a Decrease in the Price of a Hamburger

question 271

Multiple Choice

As a result of a decrease in the price of a hamburger, consumers buy more hamburgers and fewer frankfurters.This is an illustration of:

• A)consumer sovereignty.
• B)the income effect.
• C)the substitution effect.
• D)changing tastes and preferences.

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Definitions:

Broaden-And-Build Tendencies

A theory suggesting that positive emotions expand an individual's attention and mindset, leading to increased creativity, problem-solving abilities, and personal growth.

Specific-Action Tendencies

Innate or learned behavioral responses triggered by specific environmental or internal stimuli aimed at achieving certain objectives or satisfying needs.

Subjective States

Individual experiences or perceptions that are influenced by personal feelings, tastes, or opinions.

Positive Emotions

Pleasant responses to events that promote connections with others, including subjective states such as happiness, joy, euphoria, gratitude, and contentment.