Figure 10-2 Figure 10-2 Represents the Demand for Ice Cream Cones

question 257

Multiple Choice

Figure 10-2

Figure 10-2 represents the demand for ice cream cones.
-Refer to Figure 10-2.When the price of ice cream cones increases from $2 to $3, quantity demanded decreases from 4 ice cream cones to 3 ice cream cones.This change in quantity demanded is due to

• A)the price and output effects.
• B)the income and substitution effects.
• C)the law of diminishing marginal utility.
• D)the fact that marginal willingness to pay falls.

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