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

question 461

Multiple Choice

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

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

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