Higher Education Is a Normal Good

question 479

Multiple Choice

Higher education is a normal good. If its price falls,

• A)the quantity demanded of higher education will fall.
• B)the substitution and income effects work in opposite directions.
• C)the income effect is positive.
• D)higher education will be a Giffen good.

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Definitions:

Breach Of Duty

The failure to meet one's obligations or duties under the law, usually referring to professional conduct or public office.

Proximate Cause

A principle that determines whether a defendant's actions are legally considered to cause the plaintiff's injuries or damage.

Foreseeability

The ability to anticipate or predict an event, action, or consequence that may reasonably occur as a result of certain behavior or circumstances.

Actual Cause

The direct, demonstrable cause of an event or condition, often discussed in legal contexts to establish liability or wrongdoing.