Question
Question 6 (2 points) As a consumer, if the price of apples doubles and your salary remains the same, you would probably a. buy more apples b. buy the same number of apples. c. buy fewer apples d. buy more complementary goods. a A b B C C d D
Answer
4.1
(315 Votes)
Ian
Elite · Tutor for 8 years
Answer
Let's analyze the situation step by step:1. The price of apples doubles: This means that apples are now twice as expensive as they were before.2. Your salary remains the same: This implies that your purchasing power has not increased; you have the same amount of money to spend as before the price change.3. Economic behavior: Generally, when the price of a good increases and income remains constant, consumers will buy less of that good because it takes a larger portion of their income to purchase the same quantity. This is known as the law of demand.Now, let's consider the options given:a. Buy more apples: This is unlikely because the increased price without an increase in salary would typically lead to buying fewer apples, not more.b. Buy the same number of apples: This is possible only if the consumer decides to allocate more of their budget to apples and less to other goods, which is not the usual response to a price increase.c. Buy fewer apples: This is the most likely outcome, as the increased price would generally lead consumers to purchase fewer apples.d. Buy more complementary goods: Complementary goods are goods that are often used together with the primary good. If the price of apples increases, it does not directly affect the demand for complementary goods unless those goods are also used with other fruits or products that the consumer might switch to.Given these considerations, the most likely response to the price of apples doubling while the salary remains the same is:c. Buy fewer apples.**Accurate Answer: C (Buy fewer apples)**