Other Things Equal, an Increase in the Price of Product

question 41

Multiple Choice

Other things equal, an increase in the price of product A will

• A)increase the marginal utility per dollar spent on A.
• B)decrease the marginal utility per dollar spent on A.
• C)not affect the marginal utility per dollar spent on A.
• D)cause utility-maximizing consumers to buy more of A.

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Definitions:

Metabolic Rate

The rate at which an organism uses energy to support its basic functions and activities.

Basal Metabolic Rate

The amount of energy expended while at rest in a neutrally temperate environment, necessary to maintain vital functions of the body.

Total Metabolic Rate

The total amount of energy expended by an organism to maintain all bodily functions while at rest.

Body Mass Index

A measure of body fat based on height and weight that applies to adult men and women, used to categorize underweight, normal weight, overweight, and obesity.