A certain consumer buys only food and compact discs. If the quantity of food bought increases, while that of compact discs remains the same, the marginal utility of food will a. fall relative to the...

A certain consumer buys only food and compact discs. If the quantity of food bought increases, while that of compact discs remains the same, the marginal utility of food will a. fall relative to the marginal utility of compact discs. b. rise relative to the marginal utility of compact discs. c. rise, but not as fast as the marginal utility of compact discs rises. d. fall, but not as fast as the marginal utility of compact discs falls.

106: Rational consumers will continue to consume two goods until the a. marginal utility per dollar’s worth of the two goods is the same for the last dollar spent on each good. b. marginal utility is the same for each good for the last dollar spent on each good. c. prices of the two goods are equal for the last dollar spent on each good. d. prices of the two goods are unequal.



May 18, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here