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mkendrick08 mkendrick08
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6 years ago
Suppose a consumer is at an optimum. What happens when the price of one good she has been consuming increases?
A) The value of the marginal utility of the last unit consumed decreases.
B) The value of the marginal utility of the last unit consumed increases.
C) The marginal utility per dollar spent on the last unit consumed of that good increases by the same proportion as the price increases.
D) The marginal utility per dollar spent on the last unit consumed of that good is now smaller than the marginal utility per dollar spent on other goods the person consumes.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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kiara23247843kiara23247843
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mkendrick08 Author
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6 years ago
Above and beyond my expectations for this site
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