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Sara Wears the Same Bracelet to Class Each Time She

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Essay

Sara wears the same bracelet to class each time she has a major test because she believes that wearing this piece of jewelry will assure her an A just like she got on the first test when she was wearing the bracelet. Sara is exhibiting a(n)__________ behavior.


Definitions:

Inferior Good

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

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from the production and consumption of goods and services.

Equilibrium

A state in which market supply and demand balance each other, resulting in stable prices and quantities.

Positively Sloped

A line or curve on a graph that moves upward and to the right, indicating a direct relationship between two variables.

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