Simplify by Writing the Expression Without Absolute Value Bars $| w - 2 |$

question 213

Multiple Choice

Simplify by writing the expression without absolute value bars.
- $| w - 2 |$ for $w < 2$

• A) \(w + 2\)
• B) \(- w - 2\)
• C) \(w - 2\)
• D) \(- w + 2\)

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Definitions:

Substitution Effect

The substitution effect describes a change in consumption patterns due to shifts in relative prices, where consumers prefer cheaper alternatives when the price of a good rises, keeping their utility level constant.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, in contrast to a normal good.

Indifference Curves

A graph showing different bundles of goods between which a consumer is indifferent.

Utility Levels

Measures of satisfaction or happiness that consumers derive from consuming goods and services.