A Case Where a Consumer Buys Less of a Good

question 20

Multiple Choice

A case where a consumer buys less of a good when its price falls:

• A)cannot occur if the indifference curves are convex to the origin.
• B)is an example of a Giffen good and will produce an upward-sloping market demand curve.
• C)gives rise to a positively sloped price-consumption curve.
• D)refers to an inferior good with a substitution effect that dominates the income effect.

---

Definitions:

Abatement

A reduction or decrease, often referred to in the context of taxes, rent, or legal penalties.

Bequests

Bequests are gifts of money or personal property left to a beneficiary through a will or estate plan.

Adequate

Sufficient to satisfy a requirement or meet a need.

Executor

A legal term referring to an individual appointed to carry out the terms of a will.