Last Year, Joan Bought 50 Kg of Hamburger Mince When

question 141

Multiple Choice

Last year, Joan bought 50 kg of hamburger mince when the household income was $40 000.This year, the household income was only $30 000 and Joan bought 60 kg of hamburger mince.All else being constant, Joan's income elasticity of demand for hamburger is:

• A)positive, so Joan considers hamburger to be an inferior good
• B)positive, so Joan considers hamburger to be a normal good and a necessity
• C)negative, so Joan considers hamburger mince to be an inferior good
• D)negative, so Joan considers hamburger mince to be a normal good

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Definitions:

Attribution Theory

A psychological theory focused on how individuals interpret events and how this relates to their thinking and behavior.

Pretentious

Characterized by an attempt to seem more important or knowledgeable than one actually is, often by affecting greater importance or merit.

Preformed Schemas

Cognitive structures or frameworks that help individuals organize and interpret information, often based on past experiences and societal norms.

Stereotypes

Oversimplified standardized images or ideas held by individuals about members of a particular group.