The Economists at JET Consulting Consider Campbell's Soup to Be

question 143

Multiple Choice

The economists at JET Consulting consider Campbell's Soup to be an inferior good.During a recession,when the income in the economy is decreasing,economists at JET Consulting would expect the demand curve for Campbell's Soup to ________,causing the equilibrium price to ________ and the equilibrium quantity to ________.

• A) shift to the left; decrease; decrease
• B) shift to the left; increase; increase
• C) shift to the right; decrease; increase
• D) shift to the right; increase; decrease
• E) shift to the right; increase; increase

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Definitions:

Motivated

Being driven or encouraged to act or engage in an activity due to internal or external factors.

Effort

The amount of physical or mental energy put into a task or activity.

Performance

The act of carrying out or completing tasks or functions; often measured in terms of efficiency, effectiveness, and productivity.

Rewards

Incentives or benefits given for achieving certain goals or performances, aimed at motivating individuals or teams.