If Jack is a utility maximizer, shouldn't a fall in the price of popcorn cause an increase in his marginal utility of popcorn?
What will be an ideal response?
No. If the price of popcorn drops, Jack will buy more popcorn. With diminishing marginal utility, his total utility from popcorn will increase but his marginal utility from popcorn will fall.
Economics
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Indicate whether the statement is true or false
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Economics