If the Demand for a Normal Good (For Example, Steak)

question 258

Multiple Choice

If the demand for a normal good (for example, steak) shifts to the left, the most likely reason is that:

• A)consumer incomes have fallen.
• B)cattle production has declined.
• C)the price of steak has risen.
• D)the price of cattle feed has gone up.

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Definitions:

Mental Faculties

The cognitive functions and capabilities of the mind, including perception, reasoning, judgment, and memory.

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A person under the legal age of majority, which varies by jurisdiction, typically considered to be under 18 years old, and legally restricted in certain rights and responsibilities.

Cognitive Test

An assessment tool designed to measure mental processes such as memory, reasoning, attention, and understanding.