In the Texas A & M study of the "buying" behavior of two white rats,as the "relative price" of one beverage was raised,
A) both white rats began to consume more of the higher-priced beverage.
B) both white rats began to consume less of the higher-priced beverage.
C) one white rat began to consume more of the higher-priced beverage and the other began to consume less.
D) both white rats continued consuming the same amount of the beverage as before its price was raised.
E) There was no study done at Texas A & M with white rats.

Question

Quizplus · Accepted Answer

When the relative price of one beverage was raised, both white rats began to consume less of the higher-priced beverage, demonstrating a typical response to price increases.

In the Texas a & M Study of the "Buying