Opportunity cost is the __________ alternative forfeited when a choice is made

Increases in ________ typically lead to decreases in consumption

A) the interest rate B) disposable income C) autonomous consumption D) all of the above E) none of the above

If a good is inferior and its price decreases,

a. the income effect will be positive and the substitution effect will be positive. b. the income effect will be negative and the substitution effect will be negative. c. the income effect will be positive and the substitution effect will be negative. d. the income effect will be negative and the substitution effect will be positive.