Billy Likes Candy Bars and Popcorn

question 73

Multiple Choice

Billy likes candy bars and popcorn.Candy bars sell for $0.50 each and popcorn sells for $1 per bag.Currently he is in consumer equilibrium.Then the price of a candy bar rises to $1.Which statement is true in the new consumer equilibrium?

• A)The marginal utility from popcorn will increase.
• B)Marginal utility per dollar on candy bars will be equal to 2.
• C)Total utility will increase.
• D)The marginal utility from candy will decrease.
• E)The marginal utility from candy will be equal to the marginal utility from popcorn.

---

Definitions:

Charismatic authority

Describes a form of leadership where followers attribute extraordinary leadership abilities or qualities to a leader, often seen as revolutionary or heroic.

Bureaucratic organizations

Organizations structured in a hierarchical manner, emphasizing formal procedures, rules, and a clear division of responsibilities.

Occupational mobility

The ability of individuals to change their occupation or move up within their current career field.

Geographic mobility

The movement of individuals or populations from one location to another, often for reasons related to employment, housing, or quality of life.