The Price of a Large Pepperoni Pizza Used to Be

question 100

Multiple Choice

The price of a large pepperoni pizza used to be $14, but this week the price rose to $18. With a budget of just $30, you can't afford as many pizzas at the higher price. This change in consumer behavior reflects the

• A) real income effect.
• B) substitution effect.
• C) nominal income effect.
• D) concept of diminishing marginal utility.

---

Definitions:

Heights

A term that refers to the measurement of how tall or high something or someone is, often measured in units such as meters or feet.

Grade 8

This term often refers to the educational level typically for students around 13-14 years old in many school systems.

Centimetres

A unit of length in the metric system equal to one hundredth of a meter.

Weekly Salaries

Regular payments made to employees or workers, calculated on a weekly basis, for services rendered.