Multiple Choice
If by purchasing a little more milk and a little less ice cream you could increase your total utility,
A) the MU of milk must be greater than that of ice cream
B) the MU of ice cream must be greater than that of milk
C) the MU/P of milk must be greater than that of ice cream
D) milk must be cheaper than ice cream
E) the MU of milk will increase
Correct Answer:
Verified
Correct Answer:
Verified
Q45: Suppose that Hannah spends $3 to buy
Q46: Suppose you want to get to Orlando,
Q47: Exhibit 6-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-11
Q48: Exhibit 6-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-5
Q49: When income is allocated to two goods,
Q51: Different people may have different tastes, but
Q52: Consumers derive consumer surplus whenever<br>A)the monetary value
Q53: Exhibit 6-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-5
Q54: If marginal utility is positive, then total
Q55: One reason why a consumer might buy