Multiple Choice
Don receives 100 utils from consuming two oranges. The utility he derives from consuming the second orange equals 30 utils. The information provided
A) is consistent with the law of diminishing marginal utility.
B) is inconsistent with the law of diminishing marginal utility.
C) is sufficient to determine the quantity of oranges Don will consume.
D) lends support to the inferiority of oranges as consumer goods.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: If the MU/P ratio for two goods
Q3: Exhibit 20-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-5
Q4: Research presented in the textbookbook shows that
Q5: Consumers tend to equate total utilities per
Q6: Exhibit 20-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-4
Q7: Exhibit 20-2<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-2
Q8: A person is said to be in
Q9: Exhibit 20-2<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-2
Q10: Suppose Will receives 190 utils from consuming
Q11: Consumer equilibrium exists when an individual<br>A)can be