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You Go into Your Son's Room, Only to Be Met

question 215

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You go into your son's room, only to be met with a combination of smells, including day-old pizza, wet towels, and gym shoes. Your son seems unconcerned with the putrid odors. When you ask how he can stand the stench of his "pig sty," he replies that he does not smell anything because of __________. (Well, at least he's listening in psychology class.)


Definitions:

Quantity Demanded

In economics, the total amount of a good or service that consumers are willing and able to purchase at a given price.

Income

The financial gain received by an individual or household, usually derived from work, investments, or other sources, over a period.

Own Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its own price, holding other factors constant.

Delicacy Market

A sector of the food industry focused on selling rare, expensive, or gourmet items considered highly desirable.

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