If Pizza and Tacos Are Substitutes,a Decrease in the Price

question 64

Multiple Choice

If pizza and tacos are substitutes,a decrease in the price of tacos would lead to a

• A) decrease in the demand curve for pizza.
• B) decrease in the quantity demanded of pizza.
• C) decrease in the price of pizza.
• D) All of the above.

---

Definitions:

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time, leading to alteration in one of the attitudes, beliefs, or behaviors to reduce the discomfort.

Selective Retention

The tendency of individuals to remember more information that is personally meaningful to them while forgetting irrelevant information.

Stimulus Generalization

The psychological principle that occurs when a response to a specific stimulus is elicited by similar stimuli, applied in marketing to create a familiar response through similar branding.

Stimulus Generalization

A phenomenon in psychology and marketing where a response to a specific stimulus is elicited by similar stimuli, used in branding and advertising.