No matter what the price of a given item of food, a person will eat the same amount of that food. This situation is __________ with the concept of __________.
A)consistent; consumer equilibrium
B)not consistent; consumer equilibrium
C)consistent; maximizing total utility
D)consistent; consumers' surplus

Question

Quizplus · Accepted Answer

The statement contradicts the law of demand, which states that as the price of a good increases, the quantity demanded of that good decreases. Therefore, the situation is not consistent with the concept of consumer equilibrium.

No Matter What the Price of a Given Item of Food