A Consumer Has Been Buying 5 Magazines and 2 Books

question 65

Multiple Choice

A consumer has been buying 5 magazines and 2 books a month for many months. The price of books then increases. To attain a new optimum, the consumer will

• A) buy more magazines because they are now relatively more valuable than they were before, while continuing to buy the same number of books.
• B) buy more books because they are now relatively more valuable than they were before.
• C) buy the same number of books and magazines as before because they provide different types of utility.
• D) buy fewer books than before because they are relatively more expensive than they were before.

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Definitions:

Relics

Objects, often part of a deceased holy person's body or belongings, venerated due to their association with the divine or miraculous events.

Monasteries

Religious communities where monks or nuns live, work, and pray, often secluded from the secular world, and dedicated to spiritual development.

Jeanne d'Evreux

Queen of France as the third wife of King Charles IV, known for her patronage of the arts, including commissioning the Jeanne d'Evreux Book of Hours.

Mary Queen of Heaven

A title for the Virgin Mary, affirming her role as the mother of Jesus Christ and her eminent position in Christianity and Christian art.