When the price of a product increases, a consumer is able to buy less of it with a given money income. This describes the:

The poverty trap refers to:

A. poorer countries having a harder time buying the things that will end their poverty. B. richer countries spiraling downward into poverty if they invest in the wrong industries. C. richer countries spiraling downward into poverty if they fail to invest enough in physical capital. D. All of these describe the poverty trap.

Refer to the information provided in Table 14.4 below to answer the question that follows. Table 14.4B's Strategy ?Raise PriceDon't Raise Price?RaiseA's profit $6,000A's profit $20,000?PriceB's profit $6,000B's profit $30,000A's Strategy????Don'tA's profit $30,000A's profit $10,000?RaiseB's profit $20,000B's profit $10,000Refer to Table 14.4. Firm A?s optimal strategy is

A. dependent on what Firm B does. B. to raise the price of its product. C. to not raise the price of its product. D. indeterminate from this information, as no information is provided on Firm A?s risk preference.