Which One of the Following Statements Is True

question 61

Multiple Choice

Which one of the following statements is true?

• A)Since consumers of a good consume this good until the price equals the value of the last unit,they clearly get no benefit from consuming this good.
• B)Consumers choosing between goods X and Y will set MU_X = MU_Y.
• C)The value of a good to a consumer is measured by the price.
• D)Consumer surplus on a unit of a good will never be zero.
• E)If the marginal utility per dollar of good X is less than the marginal utility per dollar of good Y,then the consumer should shift some spending from X to Y.

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Definitions:

Exploration

The act of investigating or traveling through new areas to learn about them or discover resources.

Exploitation

The action or fact of treating someone unfairly in order to benefit from their work or resources.

Vicarious Retribution

A form of punishment inflicted on a perceived member of the wrongdoer's group instead of the wrongdoer themselves, often in response to a perceived injustice.

Rival Group

A group that competes against or is in opposition to another group, often driving conflicts, competitions, or striving for superiority.