Multiple Choice
If the price of a good increases,what do consumers perceive,all else being equal
A) an increase in purchasing power if the good is an inferior good
B) an increase in income if the price increase occurs for a normal good
C) a decrease in purchasing power
D) a net gain in income if they increase consumption of some goods
Correct Answer:

Verified
Correct Answer:
Verified
Q134: Figure 21-4<br>This figure shows a consumer's choice
Q135: Assume that your mother purchased two pairs
Q136: Assume that a consumer faces the following
Q137: If an indifference curve is bowed inward
Q140: Assume that a college student spends all
Q141: Figure 21-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 21-5
Q142: Why do Giffen goods have positively sloped
Q143: If goods are perfect substitutes,what is the
Q144: Figure 21-4<br>This figure shows a consumer's choice
Q303: Which of the following is most likely