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Imagine a utility-maximizing person who only consumes two goods, hamburgers and beer. Suppose the price of beer rises and all other variables remain constant. As
Imagine a utility-maximizing person who only consumes two goods, hamburgers and beer. Suppose
the price of beer rises and all other variables remain constant. As a result, this person will certainly
a) purchase more beer and fewer hamburgers.
b) not increase his consumption of both beer and hamburgers.
c) consume more hamburgers and the same amount of beer.
d) increase his/her consumption of beer.
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