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:

Boys' Toys

Toys that are traditionally marketed towards boys, often including action figures, construction sets, and vehicles.

Womb

The organ in female mammals where offspring are conceived and in which they gestate before birth; also known as the uterus.

Gender Identity

An individual's personal sense of their own gender, which may or may not correspond with the sex assigned at birth.

Social Rules

The guidelines for behavior that are considered acceptable and expected within a society or group.