Multiple Choice
If an individual's demand is elastic and price increases, what happens to total utility (TU) , marginal utility (MU) , consumer surplus (CS) , and total expenditure (TE) ?
A) TU increases, MU decreases, CS decreases, and TE decreases
B) TU increases, MU increases, CS increases, and TE decreases
C) TU decreases, MU increases, CS decreases, and TE increases
D) TU decreases, MU decreases, CS decreases, and TE decreases
E) TU decreases, MU increases, CS decreases, and TE decreases
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Exhibit 6-21 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-21
Q5: Total utility can be calculated as the<br>A)sum
Q6: Basil is maximizing his utility from consuming
Q7: Exhibit 6-14 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-14
Q8: Suppose Jerry consumes three hamburgers at McDonald's
Q10: Marginal utility is defined as the<br>A)average amount
Q11: To derive a demand curve using utility
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Q13: As price falls along a given demand
Q14: For any given price, the more elastic