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Now consider prices of food and clothing as 5 and 35 in 2010. Suppose prices of both goods double. Assume Jack's income doubles too. How will his choices of food and clothing be affected?
Price 2010 Price 2011
Food $5 per lb. $8 per lb.
Clothing $35 $65
A. His consumption of food and clothing in 2011 would reduce by half.
B. His consumption of food and clothing in 2011 would double.
C. His consumption of food would remain the same, but that of clothing would reduce by half.
D. His consumption of food and clothing in 2011 would not be affected.
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