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How do individuals typically respond to economic incentives?
What is a likely consumer response to a decrease in the price of a good?
Which incentive is likely to be most effective in encouraging energy conservation?
What is opportunity cost?
In what way do individuals exploit opportunities to improve their well-being?
How do changes in the price of a good affect consumer behavior?
What happens to the quantity demanded of a good when its price increases?
How does opportunity cost affect consumer decision-making?
How can a business use loyalty programs as an economic incentive?
What is the law of demand?