Multiple Choice
Suppose the price of a gallon of ice cream rises from $4 to $5 and the price of coffee rises from $2 to $2.50 .If the CPI rises from 150 to 200,then people likely will buy
A) more ice cream and more coffee.
B) more ice cream and less coffee.
C) less ice cream and more coffee.
D) less ice cream and less coffee.
Correct Answer:
Verified
Correct Answer:
Verified
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