Multiple Choice
Harold can consume apples and oranges.He likes them equally well and currently is in consumer equilibrium.Then the price of oranges rises,while his income remains the same.What will happen to his consumption?
A) consumption of oranges increases;consumption of apples decreases
B) consumption of oranges increases;consumption of apples increases
C) consumption of oranges decreases;consumption of apples decreases
D) consumption of oranges decreases;consumption of apples increases
E) consumption of oranges decreases;consumption of apples could either increase or decrease
Correct Answer:
Verified
Correct Answer:
Verified
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