Suppose a Person's Utility Is Only a Function of Their

question 47

Multiple Choice

Suppose a person's utility is only a function of their consumption of diet soda and they do not care which brand,Diet Coke (DC) or Diet Pepsi (DP) they consume.Suppose further that P_DC < P_DP.If P_DC rises to a point where P_DC > P_DP then the consumption of DC

• A) Falls from a positive amount to zero
• B) Falls from a positive amount to another positive amount.
• C) rises.
• D) stays at zero.

---

Definitions:

Group

Three or more people who work independently to attain organizational goals.

Collectivist Culture

A social pattern that emphasizes group goals and the importance of cohesion within social or occupational groups.

Greater Good

A principle that actions or policies are considered justifiable if they benefit the majority or improve the overall situation of a community or society.

Personal Values

are the principles and beliefs that guide an individual's behavior and decision-making processes.