An Inferior Good Is One in Which

question 243

Multiple Choice

An inferior good is one in which

• A)the average consumer chooses not to consume.
• B)the good is not equally valued by all consumers.
• C)an increase in income increases consumption of the good.
• D)an increase in income decreases consumption of the good.

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Definitions:

Natural Selection

The process by which heritable traits that make it more likely for an organism to survive and successfully reproduce become more common in a population over successive generations.

Biological Systems

Complex networks of biologically relevant entities such as cells, organisms, or ecosystems that function through systematic interactions.

Interact

To act in such a manner as to have an effect on another; in biology, it often refers to the way biological entities, such as molecules or organisms, affect each other.

Interdependent

The reciprocal relationship between entities where each depends on the other, leading to a situation where their interactions significantly influence their viability or functionality.