True or false with reasoning 1)_______When an extra glass of wine is consumed, the total utility gained from the consumption changes by an amount of the marginal utility of all goods consumed. 2)_______Suppose that you consume two goods A and B, and that MUA/PA = 2 and MUB/PB = 4. With a given income and prices, the consumer will purchase more of good A and less of good B. 3)_______If you consume two goods, X and Y, and MUX > MUY, then you are willing to pay more for good X than for good Y.
True or false with reasoning 1)_______When an extra glass of wine is consumed, the total utility gained from the consumption changes by an amount of the marginal utility of all goods consumed. 2)_______Suppose that you consume two goods A and B, and that MUA/PA = 2 and MUB/PB = 4. With a given income and prices, the consumer will purchase more of good A and less of good B. 3)_______If you consume two goods, X and Y, and MUX > MUY, then you are willing to pay more for good X than for good Y.
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 6QFR
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True or false with reasoning
1)_______When an extra glass of wine is consumed, the total utility gained from the consumption changes by an amount of the
2)_______Suppose that you consume two goods A and B, and that MUA/PA = 2 and MUB/PB = 4. With a given income and prices, the consumer will purchase more of good A and less of good B.
3)_______If you consume two goods, X and Y, and MUX > MUY, then you are willing to pay more for good X than for good Y.
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