If the Price of a Good Rises,then in the New

question 62

Multiple Choice

If the price of a good rises,then in the new consumer equilibrium all of the following are true except

• A)the marginal utility from consuming the good will be higher than before the price rise.
• B)the quantity of the good consumed decreases.
• C)the quantity of substitutes consumed increases.
• D)the marginal utility from substitutes will be lower than before the price rise.
• E)the marginal utility from the good equals its new higher price.

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