When the Price of One Good Changes,and All Others Stay

question 7

Multiple Choice

When the price of one good changes,and all others stay the same:

• A)the change in relative prices is reflected in a change in the slope of the budget constraint.
• B)the change in relative prices can be thought of as a change in the opportunity costs of each good.
• C)the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
• D)All of these statements are true.

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Definitions:

Parotid

The parotid glands are the largest of the salivary glands, located on the sides of the face, responsible for saliva production.

Submandibular

Pertaining to below the mandible (lower jaw), typically referring to glands or lymph nodes in that area.

Cluster Headaches

Extremely painful headaches that occur in patterns or clusters, typically around one eye.

Excruciating Headache

A term used to describe an extremely severe and painful headache.