When the Price of a Pizza Decreases from $14 to $12

question 480

Multiple Choice

When the price of a pizza decreases from $14 to $12

• A) the income effect means people buy less pizza.
• B) the income effect points out that the total purchasing power of people who buy pizza increases.
• C) the income effect means that the demand for pizza will not change.
• D) None of the above answers is correct.

---

Definitions:

Modernist Architect

Refers to an architect who embraces Modernism, focusing on new techniques, materials, and designs that break from traditional architecture.

Victor Horta

A Belgian architect and designer who was one of the most important figures in the Art Nouveau movement.

Louis Henry Sullivan

An American architect, regarded as the "father of skyscrapers" and mentor to Frank Lloyd Wright, who emphasized form following function.

Rodin

Auguste Rodin was a French sculptor known for his expressive and realistic works in bronze and marble, such as "The Thinker."