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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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