When the Price of a Pizza Decreases from $14 to $12

question 480

Multiple Choice

When the price of a pizza decreases from $14 to $12

• A) the income effect means people buy less pizza.
• B) the income effect points out that the total purchasing power of people who buy pizza increases.
• C) the income effect means that the demand for pizza will not change.
• D) None of the above answers is correct.

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Definitions:

Software Program

A set of instructions or code written by programmers to perform specific tasks on a computer or other devices.

Repetitive Tasks

Tasks that are repeated many times, often in a predictable manner, which can usually be automated or streamlined to improve efficiency.

Automatically

Refers to the capability of a system or process to operate or carry out functions without human intervention.

Forms

Structured documents with blank fields that users can fill in with data, often used for applications, orders, or surveys.