Solved

Marginal Utility Theory Predicts That When Income Increases a

Question 215

Multiple Choice

Marginal utility theory predicts that when income increases a


A) person's total utility will not change.
B) person might increase the consumption of some normal goods and decrease the consumption of other normal goods.
C) person's consumption of normal goods will increase.
D) None of the above answers is correct because marginal utility theory does not address how demand changes in response to changes in income.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions