Graph 22-8 -Refer to Graph 22-8. Assume That the Consumer Depicted in the Consumer

question 106

Multiple Choice

Graph 22-8

-Refer to Graph 22-8. Assume that the consumer depicted in the graph has an income of $50 and currently optimises at point B. When the price of chocolate chips decreases to $2.50, the optimising consumer will choose to purchase how many units of marshmallows?

• A) four
• B) five
• C) 10
• D) 15

---

Definitions:

Cable TV

A method of providing TV programming to viewers through radio frequency signals sent via coaxial cables or through pulses of digital light.

Tuition Fees

Charges imposed by educational institutions for instruction and other services, a major component of the cost of higher education.

Price-Elastic Demand

Describes a situation where the quantity demanded of a good or service significantly changes in response to changes in its price.

Community College

A public institution providing higher education and lower-level tertiary education, granting certificates, diplomas, and associate degrees.