Suppose the Price of Soda Is $2 Each and the Price

question 9

Multiple Choice

Suppose the price of soda is $2 each and the price of a pizza slice is $4 each. David maximizes his utility by buying only sodas and pizza. He buys 5 sodas and 10 slices of pizza. If the price of a soda increases to $3 each, David will

• A) decrease the number of sodas bought and the demand curve for sodas will shift leftward.
• B) decrease the number of sodas bought and move along the demand curve for soda.
• C) buy more pizza and move along the demand curve for pizza.
• D) buy less pizza and the demand curve for pizza will shift leftward.

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Definitions:

Social Listening

Social listening involves monitoring digital conversations to understand what customers are saying about a brand or topic online, allowing businesses to gain insights and react appropriately.

Crisis Communications

A specialized PR strategy that aims to protect and defend an individual, company, or organization facing a public challenge to its reputation.

Brand Mentions

Occurrences where a brand is referenced or talked about on various platforms, including social and traditional media.

Social Media Monitoring

The process of using tools and techniques to observe, analyze, and respond to mentions and trends on social media platforms relevant to a brand or topic.