When the Price of a Pizza Decreases from $12 to $10

question 489

Multiple Choice

When the price of a pizza decreases from $12 to $10, it is definitely the case that the

• A) income effect means people buy less pizza.
• B) substitution effect means people buy more pizza.
• C) quantity demanded of pizza will not change.
• D) None of the above answers is correct.

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Definitions:

pH

A numerical scale used to specify the acidity or basicity of an aqueous solution, where 7 is neutral, values less than 7 are acidic, and values greater than 7 are basic or alkaline.

Expiratory Reserve Volume

The additional amount of air that can be forcefully exhaled after a normal exhalation, used to measure lung function.

Inspiratory Reserve Volume

The additional amount of air that can be inhaled after a normal inhalation, contributing to the total lung capacity.

Peak Expiratory Flow

A measure of the fastest speed at which a person can exhale air after a maximal inhalation, often used in diagnosing and monitoring asthma.