If Incomes Increase, Then the ____ in the Market for Luxury

question 87

Multiple Choice

If incomes increase, then the ____ in the market for luxury cars as normal goods ____.

• A) supply; decreases
• B) supply; increases
• C) demand; increases
• D) deman
• E) both supply and deman

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Definitions:

Thermal Energy

The internal energy present in a system due to its temperature, associated with the random motion of molecules.

Higher Temperature

A condition of increased heat in a given environment or system, often affecting physical states, chemical reactions, and biological processes.

Kilocalories

A unit of energy commonly used to measure the energy content of food, equal to 1,000 calories.

Kinetic Energy

Energy of motion. Compare with potential energy.