An Increase in the Price of a Good Leads To

Multiple Choice

An increase in the price of a good leads to:

A) an increase in the marginal utility per dollar of that good, and thus an increase in the quantity purchased.
B) an increase in the marginal utility per dollar of that good, and a decrease in the quantity purchased.
C) a decrease in the marginal utility per dollar of that good, and an increase in the quantity purchased.
D) a decrease in the marginal utility per dollar of that good, and thus a decrease in the quantity purchased.