If the Income Elasticity of Demand for Lard Is -3

question 10

Multiple Choice

If the income elasticity of demand for lard is -3.00,this means that:

• A) lard is a substitute for butter.
• B) lard is a normal good.
• C) lard is an inferior good.
• D) more lard will be purchased when its price falls.

---

Definitions:

Regulating Eating

The process of controlling food intake and dietary habits for health, weight management, or psychological well-being.

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, such as heartbeat and digestion.

Cerebral Cortex

The outer layer of the brain's cerebrum, responsible for complex cognitive functions such as thought, language, consciousness, and memory.

Most Human

Characteristics, behaviors, or traits deemed uniquely or predominantly found in humans.