Suppose That Video Game Discs Are a Normal Good

question 173

Multiple Choice

Suppose that video game discs are a normal good. If the income of video game players increases, you predict that in the market for video games,

• A) both equilibrium price and quantity will fall.
• B) both equilibrium price and quantity will increase.
• C) equilibrium price will increase, and quantity will decrease.
• D) equilibrium price will fall, but quantity will increase.

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Definitions:

Claims Audit

An examination and verification of claims made under insurance policies or benefit programs to ensure accuracy and compliance.

Blended Benefit Programs

Employee benefit plans that combine elements of traditional and flexible benefits to offer a customized approach to employee compensation and welfare.

Cafeteria Benefit Programs

Flexible benefit plans allowing employees to choose from a range of benefit options tailored to their specific needs.

Equity Benefit Programs

Benefits strategies designed to ensure fair treatment and opportunities for all employees, often by addressing needs specific to certain groups.