A Good Is an Inferior Good If the Consumer Buys

question 123

Multiple Choice

A good is an inferior good if the consumer buys less of it when

• A)his income rises.
• B)the price of the good rises.
• C)the price of a substitute good falls.
• D)his income falls.

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Definitions:

Feature Detectors

Neurons in the brain that identify specific features of a stimulus, such as shape, angle, or movement.

Ganglion Cells

Neurons located in the retina that receive visual information from photoreceptors and transmit it to the brain via the optic nerve.

Axons

Long, slender projections of nerve cells (neurons) that transmit electrical impulses away from the neuron's cell body.

Ganglion Cells

Neurons located in the retina that receive visual information and transmit it to the brain.