Multiple Choice
If the total utility of five units of X is 45 units of utility and the marginal utility of the fifth unit is 3, then
A) the total utility of four units is 42 units.
B) the demand curve is likely to be upward sloping.
C) the good is a Giffen good.
D) the substitution effect is equal to 3.
Correct Answer:
Verified
Correct Answer:
Verified
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