Statement I: Marginal Utility and Consumer Surplus Are Identical Concepts

question 9

Multiple Choice

Statement I: Marginal utility and consumer surplus are identical concepts.
Statement II: Utility is simply a measure of what the buyer is willing to pay for a good or service.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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