273) A consumer finds that for product A, the price is Rs.5 and the consumer’s marginal utility is 100 utils, while for product B, the price is Rs.10 and the consumer’s marginal utility is 160 utils. Which of the following statements is true?
Answer is:
The consumer would gain more utility from A and B by consuming more A and less B
Related Micro Economics MCQ (GK Set-1) with Answers
Answer is:
The fact that the further an indifference curve is from the origin, the more total utility it represents
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The shape and position of the consumer’s indifference curves
Answer is:
A price consumption curve
Answer is: