Multiple Choice
If John's marginal utility derived from the consumption of another candy bar is 1 and the price of the candy bar is $1.50, then
A) this is the last candy bar John will purchase since the marginal utility is less than the price.
B) the opportunity cost of the candy bar is less than $1.50.
C) if John purchases and consumes the candy bar his total satisfaction will go down because the marginal utility is less than the price.
D) there is not enough information to determine if John will or will not purchase the candy bar.
Correct Answer:

Verified
Correct Answer:
Verified
Q125: The substitution effect of a price change
Q214: The following diagram shows one indifference curve
Q215: A Giffen good is a good for
Q216: Suppose Reta is planning for retirement in
Q217: The slope of an indifference curve is<br>A)the
Q218: What are the two effects of a
Q220: The following diagram shows a budget constraint
Q221: Figure 21-24 The figure shows three indifference
Q222: The theory of consumer choice examines how<br>A)firms
Q223: If an indifference curve is bowed in