A Negative Sloped Income Consumption Line Indicates That

question 9

Multiple Choice

A negative sloped income consumption line indicates that:

• A)both goods are normal.
• B)both goods are inferior.
• C)one of the goods is normal and the other is inferior.
• D)the goods may be normal or inferior.

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Definitions:

Original Price

The initial cost set for a product or service before any discounts, promotions, or markdowns are applied.

Markdown

A reduction from the original or listed price of a product, typically to stimulate sales or clear inventory.

Discounting

The practice of reducing the price of goods or services, typically to attract customers or move excess inventory.

Enhance Customer Perceptions

Strategies aimed at improving how consumers view and evaluate a company's products or services.