The Table Below Shows the Total Utility Associated with Various

question 29

Multiple Choice

The table below shows the total utility associated with various units of goods X and Y.Table 7.5

-Which of the following statements concerning income and substitution effects is not true?

• A)Income and substitution effects cause the demand curve to slope downward.
• B)When the price of a good falls, real purchasing power increases and consumers can purchase more of all goods.
• C)The substitution effect describes the situation in which more of the good whose price has fallen is purchased, and less of all other goods is purchased.
• D)A price decrease of one good cannot cause the income effect.
• E)Income and substitution effects are related to diminishing marginal utility and consumer equilibrium.

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