Suppose That Consumers' Preferences Are Well Behaved in That Properties

question 138

Multiple Choice

Suppose that consumers' preferences are well behaved in that properties 4-1 - 4-4 are satisfied.Furthermore, assume goods X and Y are normal goods and the price of good X decreases.Then the substitution effect will lead consumers to consume

• A)more of good X and more of good Y.
• B)less of good X and more of good Y.
• C)less of good X and less of good Y.
• D)more of good X and less of good Y.

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Definitions:

Borda Count

A voting system where voters rank options or candidates, and each position on the ballot is assigned a certain number of points, with the option receiving the highest total of points winning.

Candidates

Individuals who apply for or are under consideration for a position, role, or opportunity.

Voters

People who meet the criteria and take part in voting processes to select officials or make decisions on matters of public concern.

Borda Count

A ranked voting method where voters order candidates by preference, and points are assigned based on position in the preference list, with the goal of identifying a winner through accumulated points.