Which Statement Is False

question 97

Multiple Choice

Which statement is false?

• A)A product's utility to a buyer is measured by how much the buyer is willing to pay for it.
• B)A person would maximize her total utility when she had no consumer surplus.
• C)We will consume a service when its marginal utility is equal to its price.
• D)As the price of a good rises the consumer surplus decreases.

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Definitions:

Skill Development

The process of identifying, learning, and refining abilities and competencies to enhance personal and professional growth.

Feedback

Information fed back that completes two-way communication.

Perceive Change

The process of recognizing and understanding changes in one’s environment, situation, or in organizational context.

Organizations

Structured groups of people working together towards shared objectives.