An Inferior Good Is a Good Whose Quantity Demanded

question 179

Multiple Choice

An inferior good is a good whose quantity demanded

• A)rises when its price falls.
• B)falls when the price of a related good falls.
• C)falls when the consumer's total utility rises.
• D)rises when the consumer's real income falls.

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Definitions:

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups.

Display Rules

Socially learned norms or regulations that dictate how, when, and to whom we express our emotions, varying widely across different cultures.

Perceptual Component

The aspect of cognition involved in interpreting and making sense of sensory information from the environment.

Behavioural Component

The observable actions or reactions of an individual, often in response to external stimuli or internal states, as part of a broader behavioural pattern.