If the Price of a Good Rises,then in the New

question 62

Multiple Choice

If the price of a good rises,then in the new consumer equilibrium all of the following are true except

• A)the marginal utility from consuming the good will be higher than before the price rise.
• B)the quantity of the good consumed decreases.
• C)the quantity of substitutes consumed increases.
• D)the marginal utility from substitutes will be lower than before the price rise.
• E)the marginal utility from the good equals its new higher price.

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Definitions:

Inductive Techniques

Methods that derive general principles from specific observations or experiments.

Corporal Punishment

The use of physical force intended to cause pain but not injury, as a method of discipline.

Early Childhood

The developmental period from birth to approximately 8 years of age, characterized by rapid physical, cognitive, and emotional growth.

Child Abuse

Physical, sexual, emotional maltreatment, or neglect of a child under the age of 18 by a parent, caregiver, or another person in a custodial role.