The Table Below Shows the Total Utility Associated with Various

Multiple Choice

The table below shows the total utility associated with various units of goods X and Y.Table 7.5

-Suppose the price of beef declines by $0.50 per pound at the supermarket. Consumers of beef immediately increase their purchases of beef. This illustrates:

A) the fact that beef is an inferior good.
B) the cross-elasticity effect of a price decrease.
C) the substitution effect of a price decrease.
D) the fact that beef is an economic bad.
E) the income effect of a rise in price.