If Income Rises,then in the New Consumer Equilibrium

question 101

Multiple Choice

If income rises,then in the new consumer equilibrium

• A)the marginal utility from normal goods increases.
• B)the marginal utility from normal goods decreases.
• C)the marginal utility from inferior goods increases.
• D)total utility from inferior goods increases.
• E)both B and C

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Definitions:

Collectivist

A social theory favoring the group over individual interests, typically prioritizing community, cooperation, and collective well-being.

Individualist

A person or societal stance favoring independence and self-reliance in making choices and conducting affairs, often prioritizing personal goals over group objectives.

Anarchist

An individual who opposes organized government and seeks to promote a society based on voluntary cooperation and free association of individuals and groups.

Fascist

Pertaining to or advocating for a form of far-right, authoritarian ultranationalism characterized by dictatorial power, suppression of opposition, and strong regimentation of society and the economy.