When deciding which goods to consume, you should choose to consume the good with the highest marginal utility per dollar. O False, you should choose a combination of goods with equal marginal utility per dollar. O True, consumers are maximizing marginal utility and should always choose the highest amount per dollar. False, you should buy the cheapest good to get a higher level of total utility. O True, with diminishing marginal returns consuming more goods will reduce the marginal utility per dollar.
When deciding which goods to consume, you should choose to consume the good with the highest marginal utility per dollar. O False, you should choose a combination of goods with equal marginal utility per dollar. O True, consumers are maximizing marginal utility and should always choose the highest amount per dollar. False, you should buy the cheapest good to get a higher level of total utility. O True, with diminishing marginal returns consuming more goods will reduce the marginal utility per dollar.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQP
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