A consumer reaches equilibrium when
A) marginal utility is equal to price
B) marginal utility greater than price
C) marginal utility less than price
D) total utility is equal to price
Correct Answer:
Verified
Q14: When Total utility is increasing at an
Q15: Other things being equal a decrease in
Q16: When price of a product falls, more
Q17: "Utility or satisfaction is a subjective concept;
Q18: Ordinal utility analysis is otherwise known as
A)gossens
Q19: Ordinal utility analysis Was developed by
A)j.r.hicks &
Q20: Total utility curve
A)always rises
B)first falls then rises
C)always
Q21: At saturation point MU of a commodity
Q23: Marshalian cardinal utility analysis assumes
A)marginal utility of
Q24: When individuals income falls (everything remain the
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