Suppose Ben has preferences over food and clothes, denoted F and C. His preferences are typical. Choose the false statement. O At his chosen bundle, MRSFC is equal to the relative price between food and clothes. O At his chosen bundle, MUP is equal to MUC. O If the price of food were to decrease, he will demand more food. If we gave him more clothes, his utility will increase.

Suppose Ben has preferences over food and clothes, denoted F and C. His preferences are typical. Choose the false statement. O At his chosen bundle, MRSFC is equal to the relative price between food and clothes. O At his chosen bundle, MUP is equal to MUC. O If the price of food were to decrease, he will demand more food. If we gave him more clothes, his utility will increase.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section6.A: Indifference Curve Analysis

Problem 1SQ

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