If an Increase in Income Results in a Decrease in the Quantity

question 200

Multiple Choice

If an increase in income results in a decrease in the quantity demanded of a good,then for that good,the

• A)cross-price elasticity of demand is negative.
• B)price elasticity of demand is elastic.
• C)income elasticity of demand is negative.
• D)income elasticity of demand is positive.

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Definitions:

Sensory Images

Mental representations or impressions formed from the input of the five senses, enabling visualization or a sensory experience in the absence of external stimuli.

Ecstasy

A feeling of intense joy or overwhelming happiness; also refers to a synthetic drug known for producing such feelings.

Dehydration

A state where a body lacks enough fluids, especially water, necessary for normal functioning, leading to various health issues.

THC

The major active ingredient in marijuana; triggers a variety of effects, including mild hallucinations.