If the Price of a Good Rises,then in the New

question 62

Multiple Choice

If the price of a good rises,then in the new consumer equilibrium all of the following are true except

• A)the marginal utility from consuming the good will be higher than before the price rise.
• B)the quantity of the good consumed decreases.
• C)the quantity of substitutes consumed increases.
• D)the marginal utility from substitutes will be lower than before the price rise.
• E)the marginal utility from the good equals its new higher price.

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Definitions:

Immediate Recording

Immediate recording refers to the process of capturing information or data instantaneously at the moment of occurrence or observation.

Automatic Processing

Involves the subconscious execution of tasks without the need for active thought, typically developed through repetition and practice.

Incidental Information

Information that is not purposely sought out or learned but is encountered spontaneously or accidentally.

Working Memory

The component of short-term memory dedicated to the direct conscious analysis of sensory information and language use.