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Business Data Management · Quiz 2 · 10 Jul 2022 · May 2022 term

Question 16: Suppose a customer who purchases only two goods is makin…

Question 16

+1 markOne or more correct options

Suppose a customer who purchases only two goods is making a utility-maximizing choice and the price of one of the goods increases. What will happen (choose all that are applicable)?

Select all that apply.

  1. A

    The consumer’s purchasing power will decrease

  2. B

    The consumer’s total utility will increase

  3. C

    The consumer’s money income will increase

  4. D

    None of these

Show answer

Correct answer

  • A

    The consumer’s purchasing power will decrease

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Question 16 of 20 in the IIT Madras BS Business Data Management (BDM) Quiz 2 paper sat on 10 Jul 2022, in the May 2022 term (IIT M DIPLOMA QUIZ2 EXAM QPE1 10 July 2022). It carries 1 mark.

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