Suppose Amy Normally Buys Sushi and Miso

question 142

Multiple Choice

Suppose Amy normally buys sushi and miso.There is an increase in the price of miso.If Amy stays on the same indifference curve there has been:

• A)an income effect that means she consumes more miso
• B)an income effect that means she consumes less miso
• C)a substitution effect that means she consumes more sushi
• D)a substitution effect that means she consumes less sushi

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Definitions:

Injunction

A court order requiring an individual to do or refrain from doing a particular act to prevent harm or injustice.

Trade Secret

Proprietary information used by a business that is not publicly known and is subject to efforts to maintain its secrecy, giving the business a competitive advantage.

Computer Software

A collection of data, programs, procedures, and instructions that tell a computer how to perform specific tasks or operations.

Chemical Formulas

Representations of the molecular or ionic composition of chemical substances.