An Inferior Good Is One in Which

question 243

Multiple Choice

An inferior good is one in which

• A)the average consumer chooses not to consume.
• B)the good is not equally valued by all consumers.
• C)an increase in income increases consumption of the good.
• D)an increase in income decreases consumption of the good.

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Definitions:

Remembering

The cognitive process of recalling information that has been previously learned or experienced.

Pleasurable Stimuli

External or internal inputs that produce feelings of enjoyment, satisfaction, or pleasure in an organism.

Limbic System

The Limbic System is a complex set of structures in the brain associated with emotions, memory, and arousal.

Emotional Experiences

The complex feelings and reactions individuals have in response to situations, which can be positive or negative and vary in intensity.