Question

In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we change(A) income and hold everything else constant(B) tastes and preferences and hold everything else constant(C) the price of the product and hold everything else constant(D) the price of a close substitute and hold everything else constant

Answer 1

The correct answer is option C.

Step-by-step explanation:

The individual demand curve shows the quantity demanded of a commodity at different price levels, keeping other things constant.

Here, in order to derive the individual's demand for salmon we would observe the change in utility maximizing bundle when price of the product changes, while keeping other things constant.

So, option C is the correct answer.