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Figure 10-2 Figure 10-2 Represents the Demand for Ice Cream Cones

Question 257

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Figure 10-2
Figure 10-2 Figure 10-2 represents the demand for ice cream cones. -Refer to Figure 10-2.When the price of ice cream cones increases from $2 to $3, quantity demanded decreases from 4 ice cream cones to 3 ice cream cones.This change in quantity demanded is due to A) the price and output effects. B) the income and substitution effects. C) the law of diminishing marginal utility. D) the fact that marginal willingness to pay falls.
Figure 10-2 represents the demand for ice cream cones.
-Refer to Figure 10-2.When the price of ice cream cones increases from $2 to $3, quantity demanded decreases from 4 ice cream cones to 3 ice cream cones.This change in quantity demanded is due to


A) the price and output effects.
B) the income and substitution effects.
C) the law of diminishing marginal utility.
D) the fact that marginal willingness to pay falls.

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