Refer to the data for a consumer whose income = $12. Suppose the price of new product Z is $10 rather than $1. This consumer would purchase
A)some of Z but less than at a price of $1.
B)none of Z.
C)less of X, Y, and Z than if the price were $1.
D)more of X, Y, and Z than if the price were $1.

Question

Refer to the data for a consumer whose income = $12. Suppose the price of new product Z is $10 rather than $1. This consumer would purchase
A)some of Z but less than at a price of $1. 
B)none of Z. 
C)less of X, Y, and Z than if the price were $1. 
D)more of X, Y, and Z than if the price were $1.

Quizplus · Accepted Answer

The Answer of  Refer to the data for a consumer whose income = $12. Suppose the price of new product Z is $10 rather than $1. This consumer would purchase
A)some of Z but less than at a price of $1. 
B)none of Z. 
C)less of X, Y, and Z than if the price were $1. 
D)more of X, Y, and Z than if the price were $1.

Refer to the Data for a Consumer Whose Income =