Which of the Following Might Cause the Supply Curve for an Inferior

question 38

Multiple Choice

Which of the following might cause the supply curve for an inferior good to shift to the right?

• A)an increase in input prices
• B)a decrease in consumer income
• C)an improvement in production technology that makes production of the good more profitable
• D)a decrease in the number of sellers in the market

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Definitions:

Backward Conditioning

A learning process where a conditioned stimulus is presented after the unconditioned stimulus, generally considered ineffective.

Licensing

A business arrangement in which one party allows another to use its brand, patent, or intellectual property in exchange for a fee or royalty.

Product Association

The connection or linkage of a product with certain qualities, emotions, or concepts in the minds of consumers.

Allowable Franchising

A franchising arrangement wherein the franchisor grants the franchisee the rights to operate under the brand's trade name within specific, agreed-upon terms and limitations.