If Income Increases and the Demand for Bus Rides Decreases,then

question 76

Multiple Choice

If income increases and the demand for bus rides decreases,then

• A)consumers are behaving irrationally.
• B)bus rides are an inferior good.
• C)bus rides must be a complement good with some other good.
• D)bus rides are a normal good.
• E)bus rides are a substitute good.

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Definitions:

Lifestyle

The way in which a person or group lives, including their behaviors, attitudes, values, and consumption habits.

Affluent Neighborhoods

Areas or localities where the residents have higher than average wealth and income levels, typically characterized by expensive homes and high living standards.

Fine Dining

A style of eating that involves high-quality food, exceptional service, and often expensive, elegant settings.

Planned Shopping Center

A deliberately designed shopping facility with one or more buildings that house a variety of stores and services catering to consumer needs.