Multiple Choice
Harold can consume either pens or milkshakes. The price of a pen is $1, and the price of a milkshake is $1. Harold figures that when his income is spent, his marginal utility from pens will be 10 and his marginal utility from milkshakes will be 8. Harold is better off
A) by consuming more pens and fewer milkshakes.
B) by consuming more pens and more milkshakes.
C) by consuming fewer pens and fewer milkshakes.
D) by consuming fewer pens and more milkshakes.
E) only if he makes more income.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Diminishing marginal utility means that<br>A)Ralph will enjoy
Q5: Behavioural economics<br>A)studies the activity of the human
Q17: When total utility is increasing,marginal utility<br>A)is negative.<br>B)must
Q31: You are consuming hot dogs and Cokes
Q37: Beverly is currently in consumer equilibrium.An increase
Q39: The marginal utility per dollar from pizza
Q41: Ron starts out in consumer equilibrium, consuming
Q44: If Soula is maximizing her utility and
Q77: According to the principle of diminishing marginal
Q80: Use the table below to answer the