Suppose a Glass of Orange Juice Has a Price of $2

question 170

Multiple Choice

Suppose a glass of orange juice has a price of $2 and a glass of soft drink has a price of $1.If the consumer is maximizing utility,

• A)juice must have higher MU than soda drink
• B)the soft drink must have higher MU than juice
• C)both must have equal MU
• D)consumers would buy more soda drink than orange juice
• E)the consumer would buy twice as much orange juice as soft drink

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Definitions:

Food Culture

The practices, attitudes, and beliefs surrounding the production, distribution, and consumption of food within a specific group.

Cadbury Schweppes

A multinational confectionery and beverage company, known for its chocolate products and soft drinks.

Culture

Culture encompasses the beliefs, norms, values, and practices shared by a group of people, shaping their behavior and perceptions.

Ethos

The characteristic spirit of a culture, era, or community as manifested in its beliefs and aspirations; in rhetoric, the ethical appeal or credibility of the speaker.