Multiple Choice
When a consumer shifts purchases from product X to product Y, the marginal utility of
A) X falls and the marginal utility of Y rises.
B) X rises and the marginal utility of Y falls.
C) both X and Y rises.
D) both X and Y falls.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: The substitution effect of a price decrease
Q6: Which of the following statements about utility
Q7: If total utility is increasing, then marginal
Q8: An indifference map implies that<br>A)money income is
Q9: All of the following would reduce property
Q11: The table below shows the utility schedule
Q12: Suppose that Ms. Thomson is currently exhausting
Q13: "Consumer equilibrium" refers to the situation when
Q14: In drawing a particular budget line, money
Q15: The substitution effect<br>A)is generally so weak that