A Consumer Buys Only Food and Clothing

question 80

Multiple Choice

A consumer buys only food and clothing. If the quantity of food bought increases while that of clothing remains the same, the marginal utility of food will:

• A) fall, but not as fast as the marginal utility of clothing falls.
• B) rise, but not as fast as the marginal utility of clothing rises.
• C) rise relative to the marginal utility of clothing.
• D) fall relative to the marginal utility of clothing.

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Definitions:

Psychodynamic Ideas

Concepts related to the psychological forces that underlie human behavior, feelings, and emotions, notably those that are unconscious.

Defensive Pessimism

A cognitive strategy where an individual sets low expectations for their performance, regardless of their actual ability, to prepare mentally for any possible outcome.

Conscious Mind

The aspect of mental processing that involves awareness of thoughts, feelings, and perceptions in the present moment.

Unconscious Mind

The part of the mind that contains thoughts, memories, and desires not immediately accessible to conscious awareness.