If the price of a pizza were to increase to $50, many people would give up eating pizza while others would continue to eat it. This would indicate
A) those who are buying pizza value it at least $50 per pizza.
B) those who are not buying pizza value it more than $50 per pizza.
C) only those who are extremely wealthy are buying pizza.
D) the price of pizza needs to be regulated by the federal government.
A
Economics
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Consumers seek to
A) maximize profits. B) maximize expected consumer surplus. C) minimize expenditures. D) maximize choice.
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According to classical economists, the only motive for demanding money is
a. to transact business activity b. the precautionary demand for money c. to speculate d. hold M1 e. as insurance against unexpected needs
Economics