When a Consumer Experiences a Price Increase for an Inferior

question 117

Multiple Choice

When a consumer experiences a price increase for an inferior good, if the income effect is

• A)greater than the substitution effect, the demand curve will be downward sloping.
• B)greater than the substitution effect, the demand curve will be upward sloping.
• C)less than the substitution effect, the demand curve will be upward sloping.
• D)less than the substitution effect but the substitution effect is positive, the demand curve will be upward sloping.

---

Definitions:

Skills Training

Educational programs or activities designed to enhance specific abilities, competencies, and knowledge related to a job or task.

Feedback Cycle

Feedback cycle refers to the process of providing and receiving information on performance or behavior, intended to affirm or improve actions towards achieving desired outcomes.

Individual Coaching

A personalized approach to development where a coach supports and guides an individual in achieving their personal or professional goals.

Special Assignments

Specific, often unique tasks or projects assigned to an individual or team, usually outside of regular duties, to accomplish strategic goals.