Which among the following is not true? Select one: a. None of the answers are correct b. When marginal utility declines, a higher price is needed to induce the consumer to buy more of a particular product c. When marginal utility declines, a lower price is needed to induce the consumer to buy more of a particular product d. All the answers are correct e. Utility maximizing rule and the demand curve are logically consistent
Which among the following is not true? Select one: a. None of the answers are correct b. When marginal utility declines, a higher price is needed to induce the consumer to buy more of a particular product c. When marginal utility declines, a lower price is needed to induce the consumer to buy more of a particular product d. All the answers are correct e. Utility maximizing rule and the demand curve are logically consistent
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 1E
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Question
Which among the following is not true?
Select one:
a. None of the answers are correct
b. When
buy more of a particular product
c. When marginal utility declines, a lower price is needed to induce the consumer to
buy more of a particular product
d. All the answers are correct
e. Utility maximizing rule and the demand curve are logically consistent
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