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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.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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am. 130.

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.
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.
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