Which one of the following statements is true? Select one: OA. Consumers choosing between goods X and Y will set MUX = MUY. O B. Consumer surplus on a unit of a good will never be zero. OC. The value of a good to a consumer is measured by the price. OD. If the marginal utility per dollar from good X is less than the marginal utility per dollar from good Y, then the consumer should shift some spending from X to Y. O E. Since consumers of a good consume this good until the price equals the value of the last unit, they clearly get no benefit from consuming this good.
Which one of the following statements is true? Select one: OA. Consumers choosing between goods X and Y will set MUX = MUY. O B. Consumer surplus on a unit of a good will never be zero. OC. The value of a good to a consumer is measured by the price. OD. If the marginal utility per dollar from good X is less than the marginal utility per dollar from good Y, then the consumer should shift some spending from X to Y. O E. Since consumers of a good consume this good until the price equals the value of the last unit, they clearly get no benefit from consuming this good.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
am. 130.
Transcribed Image Text:Which one of the following statements is true?
Select one:
OA. Consumers choosing between goods X and Y will set MUX = MUY.
O B. Consumer surplus on a unit of a good will never be zero.
OC. The value of a good to a consumer is measured by the price.
OD. If the marginal utility per dollar from good X is less than the marginal utility per dollar from good Y, then the
consumer should shift some spending from X to Y.
O E. Since consumers of a good consume this good until the price equals the value of the last unit, they clearly get
no benefit from consuming this good.
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education