Multiple Choice
Suppose a utility- maximizing person consumes only two goods, hamburgers and milkshakes. Suppose the price of milkshakes rises and all other variables remain constant. As a result, this person will certainly
A) reduce his/her consumption of both milkshakes and hamburgers.
B) not increase his consumption of both milkshakes and hamburgers.
C) purchase more milkshakes and fewer hamburgers.
D) increase his/her consumption of milkshakes.
E) consume more hamburgers and the same amount of milkshakes.
Correct Answer:

Verified
Correct Answer:
Verified
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