If an Increase in Income Results in an Increase in the Quantity

question 84

Multiple Choice

If an increase in income results in an increase in the quantity demanded for a product, the product is ________, and the value of the income elasticity of demand is ________.

• A) a normal good; positive
• B) a normal good, negative
• C) an inferior good; positive
• D) an inferior good; negative

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Definitions:

Social Media Campaign

is a coordinated marketing effort to promote a brand, product, or service across one or more social media platforms, utilizing content, interactions, and engagement.

Brand Purpose

Defines the reason a brand exists beyond making a profit, often reflecting its social or environmental commitments, and how it intends to positively impact the world or its consumers.

Ethical Challenges

Situations or decisions that involve a conflict between moral principles.

Co-Optation

The process of absorbing new ideas or movements into existing structures to neutralize or mitigate their impact.