Table 6.5 -Refer to Table 6.5, Which Lists the Values of Harry

question 209

Multiple Choice

Table 6.5
-Refer to Table 6.5, which lists the values of Harry Taber's marginal utility and marginal utility per dollar for burgers and sushi rolls.Assume that the price of the burgers is $4 and the price of sushi rolls is $2.When Harry's income is $14 he buys two burgers and three sushi rolls.The last column lists the values of the marginal utility per dollar for sushi rolls when the price of sushi rolls decreases to $1.Complete this statement: As a result of the change in price, the marginal utility of each sushi roll Harry consumes increases, and

• A)the substitution effect of the price change will cause Harry to buy more sushi rolls and fewer burgers.
• B)the substitution effect of the price change will cause Harry to buy more sushi rolls if they are a normal good, and fewer sushi rolls if they are an inferior good.
• C)the substitution effect will cause Harry to buy another burger because his purchasing power has increased.
• D)the substitution effect will cause Harry to buy fewer sushi rolls.

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Definitions:

Mob Violence

Refers to aggressive and often destructive behavior performed by a large group of people, typically resulting from collective social or political unrest.

Personal Responsibility

The concept of holding oneself accountable for one's actions and accepting the consequences that come with them.

Cohesive Group

A group in which members feel bonded together, promoting mutual respect, agreement, and support for each other.

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.