Suppose That a Market Basket of Two Goods Is Changed

question 72

Multiple Choice

Suppose that a market basket of two goods is changed by adding more of one of the goods and subtracting one unit of the other. The consumer will:

• A) rank the market basket more highly after the change.
• B) rank the market basket more highly before the change.
• C) rank the market basket just as desirable as before.
• D) any one of the above statements may be true.

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Definitions:

ADDA

American Design Drafting Association, an organization that supports professionals in the drafting and design industry.

Reference Dimension

A measurement provided on a drawing or in a set of specifications for informational purposes only, not subject to inspection.

Diameter

A linear measurement of a circle across the center point from one edge to the opposite edge.

Symbol Ø

A symbol used in technical drawing to denote diameter of a circle.