Question: True or false : If the marginal utility pwr rand spent on good X exceeds the marginal utility per rand spent on good Y, total

True or false : If the marginal utility pwr rand spent on good X exceeds the marginal utility per rand spent on good Y, total utility will increase by increasing consumption of X and decreasing consumption of Y.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!