Joni receives 8 utils from drinking her first glass of water and 5 utils from watching her favorite television show. Which statement is TRUE?
A) All else constant, Joni would prefer to drink a glass of water than watch TV.
B) Joni should never watch television.
C) Because tap water has no price, its utility value must be zero and Joni is irrational.
D) Joni's preferences are irrational because water is a necessity.
Correct Answer:
Verified
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