Multiple Choice
If the price of apples falls and the price of oranges remains constant:
A) apples are now relatively cheaper.
B) the fall in the price of apples made consumers richer.
C) the fall in the price of apples, ceteris paribus, makes the marginal utility of apples divided by their price exceed the marginal utility of oranges divided by their price.
D) all of the above statements are true.
Correct Answer:
Verified
Correct Answer:
Verified
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