Multiple Choice
Suppose the price of soda is $2 each and the price of a pizza slice is $4 each. David maximizes his utility by buying only sodas and pizza. He buys 5 sodas and 10 slices of pizza. If the price of a soda increases to $3 each, David will
A) decrease the number of sodas bought and the demand curve for sodas will shift leftward.
B) decrease the number of sodas bought and move along the demand curve for soda.
C) buy more pizza and move along the demand curve for pizza.
D) buy less pizza and the demand curve for pizza will shift leftward.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Bianca consumes pizza. Marginal utility theory predicts
Q5: What is the water and diamonds paradox
Q6: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Steve has two
Q7: The principle of diminishing marginal utility says
Q8: Pizza Pepsi<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Pizza Pepsi
Q10: Jeremiah spends all of his income on
Q11: Tom spends $20 a month on CDs
Q12: Fritos Fruit drinks<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Fritos Fruit
Q13: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q14: Emma consumes only hot dogs and hamburgers.