Daniel enjoys both soda and pizza, allocating his purchases across these two goods so that his utility is maximized. If Daniel receives one-third as much utility from the last can of soda as from the last slice of pizza, we can say that:
a. the price of pizza is one-third that of soda.
b. the price of pizza is equal to that of soda
c. the price of pizza is twice that of soda.
d. the price of pizza is three times that of soda.
d
Economics
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Refer to the diagram. A decrease in quantity demanded is depicted by a:
A. move from point x to point y.
B. shift from D 1 to D 2 .
C. shift from D 2 to D 1 .
D. move from point y to point x.
Economics