Multiple Choice
If total utility can be increased by purchasing a little more milk and a little less ice cream, the:
A) marginal utility of milk is greater than that of ice cream
B) marginal utility of ice cream is greater than that of milk
C) ratio of marginal utility of milk to its price is greater than that of ice cream
D) ratio of marginal utility of milk to its price is lesser than that of ice cream
E) marginal utility of ice cream is negative
Correct Answer:
Verified
Correct Answer:
Verified
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