A Consumer Has Been Buying 3 Magazines and 1 Book

question 249

Multiple Choice

A consumer has been buying 3 magazines and 1 book each month. The price of magazines then decreases, which directly causes the marginal utility per dollar spent on

• A) magazines to increase, thereby inducing the consumer to purchase fewer magazines and more books.
• B) magazines to increase, thereby inducing the consumer to purchase more magazines and fewer books.
• C) books to increase, thereby inducing the consumer to purchase fewer magazines and more books.
• D) books to decrease, thereby inducing the consumer to purchase fewer magazines and more books.

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Definitions:

Religious Background

The religious environment or context in which a person was raised or has been influenced by.

Heroism

The qualities of a hero such as courage, bravery, and self-sacrifice for the greater good, often resulting in acts of valor.

Social Category

A Social Category represents a group of people who share a common characteristic or attribute but do not necessarily interact or identify with each other.

Similar Status

A condition where individuals or entities share comparable levels of prestige, importance, or hierarchy within a social or organizational structure.