John Smedley, a careful maximizer of utility, consumes only two goods, peanut butter and ice cream. He had just achieved the utility-maximizing solution in his consumption of the two goods when the price of ice cream fell. As he adjusts to this event, he will consume:

Select one:

a.

more peanut butter and more ice cream.

b.

less peanut butter and less ice cream.

c.

more peanut butter and less ice cream.

d.

less peanut butter and more ice cream.