Elvira decreased her consumption of bananas when the price of peanut butter increased. For Elvira, peanut butter and bananas are
A) complements in consumption. B) both luxury goods.
C) both inferior goods. D) substitutes in consumption.
Question 2
Refer to Table 4-7. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are 30 and 15 thousand units.
What is the value of consumer surplus?
A) 50 thousand B) 112.5 thousand C) 225 thousand D) 337.5 thousand
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