If There Are Only Two Goods in the Economy, Chocolate

question 81

Multiple Choice

If there are only two goods in the economy, chocolate and peanut butter, and the price of chocolate falls, the new utility-maximizing bundle for a typical consumer would entail consuming _____ peanut butter and ______ chocolate.

• A) less; more
• B) more; less
• C) more; more
• D) less; less

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Definitions:

Hormone Replacement Therapy

A treatment used to relieve symptoms of menopause by replacing estrogen and sometimes progesterone.

Rapid-Acting

Referring to a type of medication or insulin that starts to work very quickly after being administered.

Intravenous

Involving or occurring within a vein, typically referencing the administration of medication or fluids directly into a vein.

Calibrated Dropper

A dropper that has been adjusted or marked to measure and transfer a specific volume of liquid accurately.