The Demand Curve for Canned Peas Is Downward Sloping

question 88

Multiple Choice

The demand curve for canned peas is downward sloping.If the price of canned peas, an inferior good, rises, then

• A)the income effect which causes you to reduce your canned peas purchases is smaller than the substitution effect which causes you to increase your purchases, resulting in a net increase in quantity demanded.
• B)the income effect which causes you to increase your canned peas purchases is smaller than the substitution effect which causes you to reduce your purchases, resulting in a net decrease in quantity demanded.
• C)both the income and substitution effects reinforce each other to decrease the quantity demanded.
• D)the income and substitution effects offset each other but the price effect of an inferior good leads you to buy more canned peas.

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Definitions:

Darkness

The absence of light in an environment, resulting in limited visibility.

Homeostasis

The regulation of internal conditions within an organism to maintain a stable, constant environment despite external changes.

Biological System

An organized group of organs and structures that work together to perform a specific function or task in a living organism, such as the nervous system or respiratory system.

Optimal Level

The most favorable point, degree, or amount of something for a particular situation or condition, resulting in the best possible outcome.