Assume That Potatoes Are an Inferior Good

question 148

Multiple Choice

Assume that potatoes are an inferior good.Which of the following would cause both the equilibrium price and equilibrium quantity of potatoes to decrease?

• A)an increase in consumer income
• B)a freeze that sharply reduces potato output
• C)a decrease in consumer income
• D)a technological advancement that results in a bumper crop of potatoes

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Definitions:

Severe Depressive Symptoms

Intense and enduring symptoms of depression, including profound sadness, lethargy, and a lack of interest in life.

Bipolar Disorder

A mental disorder characterized by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).

Depression And Mania

Psychological conditions characterized by extreme moods; depression involves persistent sadness, while mania involves elevated or irritable mood states.

Mood States

Temporary emotional states or attitudes that can vary in intensity and duration, influencing perception and behavior.