Suppose That Nicholas Has $50 to Spend on Food and Clothing

Multiple Choice

Suppose that Nicholas has $50 to spend on food and clothing. If Nicholas now has $100, then it is most likely that he will

A) increase both food and clothing consumption.
B) increase food consumption but decrease clothing consumption.
C) decrease food consumption but increase clothing consumption.
D) decrease both food and clothing consumption.
E) not change food or clothing consumption.