If the Price of a Good Increases, All Else the Same

question 283

Multiple Choice

If the price of a good increases, all else the same, then the consumer's total utility will

• A) increase.
• B) decrease.
• C) remain the same as consumption shifts to cheaper goods.
• D) decrease if there are no substitutes for the good and remain the same if there are substitutes for the good.

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Definitions:

Franciscans

A religious order within the Catholic Church founded by Saint Francis of Assisi, known for its emphasis on simplicity, poverty, and helping the needy.

Dominicans

A Roman Catholic religious order founded by Saint Dominic in the early 13th century, known for their preaching and teaching.

Pulpit

A raised platform in a church or mosque on which a priest or imam stands while leading the religious service.

Baptistery

A part of a church or a separate building used for the Christian rite of baptism.