Consuming one more of a good increases its marginal-utility-to-price ratio, and consuming one less of the other good lowers its marginal-utility-to-price ratio

a. True
b. False
Indicate whether the statement is true or false

False

Economics

You might also like to view...

Suppose favorable weather resulted in a bumper crop of oranges in Florida. In the market for oranges

A) the supply curve shifted to the right resulting in a decrease in the equilibrium price. B) the demand curve shifted to the right resulting in an increase in the equilibrium price. C) the supply curve shifted to the right resulting in an increase in the equilibrium price. D) the demand curve shifted to the left resulting in a decrease in the equilibrium price.

Economics

As the workforce ages,

A) structural and frictional unemployment increase. B) cyclical unemployment declines. C) cyclical unemployment increases. D) the natural rate of unemployment declines.

Economics