For a Demand Curve to Be Upward Sloping, the Good

question 288

Multiple Choice

For a demand curve to be upward sloping, the good would have to be an inferior good, and

• A)the income effect would have to be larger than the substitution effect.
• B)the income effect would have to be smaller than the substitution effect.
• C)the income effect would have to be equal to the substitution effect.
• D)the income effect and the substitution effect would have to be nonexistent.

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Definitions:

Hydrocarbon Alkane

Saturated hydrocarbons consisting only of single bonds between carbon atoms, with a general formula of CnH2n+2.

Carbon Atoms

The core building blocks of organic molecules, consisting of six protons, six neutrons, and six electrons.

Structure

Refers to the arrangement of atoms or molecules in a substance, determining its chemical composition and properties.

Aromatic Hydrocarbons

Compounds that contain one or more benzene rings, noted for their stability and aromaticity.