If by Purchasing a Little More Milk and a Little

question 50

Multiple Choice

If by purchasing a little more milk and a little less ice cream you could increase your total utility,

• A)the MU of milk must be greater than that of ice cream
• B)the MU of ice cream must be greater than that of milk
• C)the MU/P of milk must be greater than that of ice cream
• D)milk must be cheaper than ice cream
• E)the MU of milk will increase

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Definitions:

Direct Discrimination

Unfair treatment of individuals based on their specific characteristics, such as race, gender, or age, as directly expressed by actions or policies.

Indirect Discrimination

practices or policies that appear neutral but result in unfair treatment of certain groups without direct intention to discriminate.

Robinson-Patman Act

Part of a group of laws collectively called the antitrust laws governing competition in the United States. Under the Robinson–Patman Act, it’s illegal to give or receive a price discount on a good sold to another business. This law does not cover services and sales to final consumers.

Price Discrimination

The strategy of selling the same product to different customers at different prices, often based on their willingness or ability to pay.