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Megan suffers from a phobia of kittens and cats.Even though she consciously understands that she does not have to be afraid of such small creatures, she still exhibits nervousness as she watches her daughter petting a neighbor's gentle cat.Which part of the limbic system causes this fear response that Megan does not understand?
Determinant of Demand
A factor that affects the willingness and ability of consumers to buy a product, which can include price, income, tastes, and expectations.
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, achieving market balance.
Normal Good
A good for which demand increases as consumer income rises, demonstrating a direct relationship between income and demand.
Allocative Efficiency
Achieved when resources are distributed in a way that maximizes the benefits received by society, aligning production with consumer preferences.
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