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-Rick's Income Is $54 a Week and He Spends All

Question 3

Multiple Choice

-Rick's income is $54 a week and he spends all of it on CDs and sandwiches. The price of a CD is $18 and the price of a sandwich is $3. The figure above illustrates Rick's preferences. If the price of a CD falls to $6, Rick's consumption of sandwiches will A) increase by 4 sandwiches per week. B) increase by 2 sandwiches per week. C) not change. D) decrease by 2 sandwiches per week.
-Rick's income is $54 a week and he spends all of it on CDs and sandwiches. The price of a CD is $18 and the price of a sandwich is $3. The figure above illustrates Rick's preferences. If the price of a CD falls to $6, Rick's consumption of sandwiches will


A) increase by 4 sandwiches per week.
B) increase by 2 sandwiches per week.
C) not change.
D) decrease by 2 sandwiches per week.

Correct Answer:

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