Jeff Likes Pepsi and Pizza

question 54

Multiple Choice

Jeff likes Pepsi and pizza. When the price of pizza rises, the substitution effect causes Pepsi to be relatively

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

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Definitions:

UCC Warranty

A guarantee under the Uniform Commercial Code that goods sold meet certain criteria, such as being free from defects.

Fitness

The state of being physically and mentally sound and healthy, often in the context of the capability to perform tasks or duties.

Treadmill

A piece of exercise equipment designed for walking or running in place, often used for physical fitness.

Implied Warranty

A legal assumption in a sale that the goods or services are fit for the intended purpose, even if not explicitly stated.