According to the Substitution Effect,which Statement BEST Describes Why a Decrease

question 179

Multiple Choice

According to the substitution effect,which statement BEST describes why a decrease in the price of LED light bulbs leads to an increase in the quantity of LED light bulbs demanded?

• A)Buyers have more real income.
• B)Buyers always purchase fewer substitute goods for LED light bulbs.
• C)Buyers tend to purchase more of the now less expensive LED light bulbs.
• D)Buyers tend to purchase more complementary goods to LED light bulbs.

---

Definitions:

Deindividuation

Deindividuation is a psychological state where an individual loses self-awareness and a sense of individuality, often resulting in uninhibited and impulsive behavior, usually in group settings.

Social Facilitation

The enhancement of performance when in the presence of others, as opposed to being alone.

Arousal

A state of awareness and responsiveness to environmental stimuli, both physically and mentally.

Anonymity

The condition of being anonymous, where an individual's identity is not known or is deliberately withheld.