If the price of a pizza were to increase to $50, many people would give up eating pizza while others would continue to eat it. This would indicate
A)those who are buying pizza value it at least $50 per pizza.
B)those who are not buying pizza value it more than $50 per pizza.
C)only those who are extremely wealthy are buying pizza.
D)the price of pizza needs to be regulated by the federal government.

Question

Quizplus · Accepted Answer

If the price of pizza were to increase to $50, only those who value it at least $50 per pizza would continue to buy it, indicating that they value it at a higher price point. The fact that some people would give up eating pizza suggests that they do not value it as much and are not willing to pay $50 for it. Therefore, the answer is A - those who are buying pizza value it at least $50 per pizza.

If the Price of a Pizza Were to Increase to $50