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

question 2

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 .If PDC rises but it remains less than PDP 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.

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Definitions:

Crown Patent

A legal document issued by a sovereign government granting rights or land to an individual or entity, historically used to transfer public lands into private ownership.

Possessory Nuisance

A situation where a person’s use or possession of property negatively impacts a neighbor's right to enjoy their property.

Cottage Lot

A parcel of land designated for the purpose of building a cottage or vacation home.

Lake Frontage

Property that directly borders a lake, often increasing the property’s value due to scenic and recreational benefits.