12. Consider a consumer who can buy only two goods: Pizza (q:) and Pepperoni (q:). The consumer prefers more pizza to less, but prefers less pepperoni than more. What will be the shape of the consumer's ICs? a. Downward sloping b. L-shaped C. Linear and downward sloping d. Upward sloping e. Vertical 13. Fry spends his income on Slurm (q:) and Popplers (q:). When the price of Popplers increases, the quantity of Slurm Fry consumes remains the same. This implies that his Price Consumption Curve is and his demand curve for Popplers is a. flat; flat b. vertical; vertical C. flat; vertical d. vertical; downward sloping e. downward sloping; upward sloping 14. The graph to the right shows a consumer's indifference curve map, budget lines, and income consumption curve for Operas and Food. Which of the following statements is true? Food a. Opera is an inferior good and Food is a normal good b. Opera is a normal good and Food is a normal good c. Opera is an inferior good and Food is an inferior R good *ICC d. Opera is a normal good and Food is an inferior good 2 13 e. Cannot be determined from this graph Operas