Pepsi and Pizza Are Normal Goods

question 284

Multiple Choice

Pepsi and pizza are normal goods. When the price of pizza rises, the substitution effect causes Pepsi to be relatively

• A)more expensive, so the consumer buys more Pepsi.
• B)more expensive, so the consumer buys less Pepsi.
• C)less expensive, so the consumer buys more Pepsi.
• D)less expensive, so the consumer buys less Pepsi.

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Definitions:

Opinion Leader

An individual who influences the opinions, attitudes, or behaviors of others through their expertise, knowledge, or social position.

Social Media Promoter

A social media promoter is an individual or entity that uses social media platforms to enhance the visibility and engagement of a brand, product, or service, often using targeted marketing strategies.

Product Leader

A person or company that leads in the development, innovation, and marketing of new or existing products, often setting standards or trends in their industry.

Purchasing Agents

Individuals within an organization who are responsible for negotiating, acquiring, and managing the purchase of goods and services.