Multiple Choice
The fact that an ounce of gold is priced higher than an ounce of chocolate suggests that
A) the marginal utility of the last unit of gold consumed or purchased is greater than the marginal utility of the last unit of chocolate consumed.
B) the total utility of gold purchased is greater than the total utility of chocolate consumed.
C) gold is a normal good, while chocolate is an inferior good.
D) there are many substitutes for chocolate but few for gold.
Correct Answer:
Verified
Correct Answer:
Verified
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