Multiple Choice
The opportunity cost of consuming good A is lower than the opportunity cost of consuming good B. This means that good:
A) A has a higher marginal utility.
B) B has a higher marginal utility.
C) A has a higher marginal utility per dollar.
D) B has a higher marginal utility per dollar.
Correct Answer:
Verified
Correct Answer:
Verified
Q43: The theory of bounded rationality, based on
Q44: You're maximizing utility when:<br>A) (MU of X)/
Q45: Suppose that when you consume the third
Q46: According to the principle of rational choice,
Q47: If people generally believe that "you get
Q49: If MU<sub>A</sub>/P<sub>A</sub>> MU<sub>B</sub> /P<sub>B</sub>, an individual should
Q50: Refer to the graph shown. Which price
Q51: The slower the marginal utility declines as
Q52: Refer to the following table. If
Q53: A rational consumer maximizes his or her:<br>A)