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Title: If the price of a slice of pizza falls from $2 to $1.5, a pizza-loving consumer will Post by: wildcat290 on Mar 3, 2019 Question 1. The change in people's purchasing power that occurs when the price of one good that they purchase changes is the• substitution effect. • real-income effect. • price income effect. • law of diminishing marginal utility. Question 2. If the price of a slice of pizza falls from $2 to $1.5, a pizza-loving consumer will• substitute more Chinese food for pizza. • spend more on soft drinks and less on pizza. • see her purchasing power rise. • see her purchasing power fall. Title: If the price of a slice of pizza falls from $2 to $1.5, a pizza-loving consumer will Post by: n00835996 on Mar 3, 2019 Content hidden
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