Suppose a Consumer Who Purchases Only Two Goods Is Making

question 67

Multiple Choice

Suppose a consumer who purchases only two goods is making a utility-maximizing choice and then the price of one of the goods decreases.What will happen?

• A)The consumer's purchasing power will increase.
• B)The consumer's total utility will increase.
• C)The consumer's money income will increase.
• D)both a and b
• E)all of the above

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Definitions:

Career Ladders

Structured sequences of job positions that allow individuals to progress in their career, typically involving increased responsibilities and benefits.

Training Opportunities

Programs or sessions designed to enhance the skills, knowledge, and competencies of individuals or groups for better performance.

Advantage

refers to a condition or circumstance that puts an individual or entity in a favorable or superior position compared to others.

Automobile Assembly Line

A manufacturing process in which parts or components of a car are assembled in a sequential manner to create a complete vehicle.