Multiple Choice
Sam McGarrity inherited $500,000 upon his favorite aunt's death. After this event it was observed by the local butcher that Sam was purchasing more steaks than in the past even though the butcher's advertising had provided no new information about his steaksin the past year. Most likely,
A) the relative cost of the butcher's steaks decreased
B) the relative cost of the butcher's steaks increased
C) Sam had seen industry ads about the benefits of red meat
D) Sam's indifference map shifted
E) Sam's income increased
Correct Answer:
Verified
Related Questions
Q17: Moving from one curve to another in
Q18: The budget constraint 12,000 = 2X +
Q19: A change in a consumer's feelings about
Q20: As population of a region increases, the