John Smedley, a Careful Utility Maximizer, Consumes Only Two Goods

question 231

Essay

John Smedley, a careful utility maximizer, consumes only two goods, peanut butter and broccoli.He had just achieved the utility-maximizing solution in his consumption of the two goods when the price of broccoli increases.As he adjusts to this event, he will consume:
A.more peanut butter and less broccoli.
B.less peanut butter and less broccoli.
C.more peanut butter and more broccoli.
D.less peanut butter and more broccoli.

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Definitions:

Aldehydic Proton

The hydrogen atom attached to the carbon of an aldehyde group, which is typically more deshielded in NMR spectroscopy compared to other hydrogen atoms.

Equivalent

A term used to describe a quantitative relationship in chemistry, representing entities that have the same capacity to react.

Diastereotopic

Diastereotopic refers to hydrogen atoms or groups in a molecule that are not identical and are replaced by another atom or group, leading to diastereomers.

Enantiotopic

Refers to atoms or groups in a molecule that are mirror images of each other but not superimposable, often discussed in the context of chirality in organic chemistry.