What is true for consumers when they choose how much to consume of a good? 0 a. As the quantity consumed of a product rises marginal utilityr rises. O b. As the quantity consumed of a product rises, total utility rises, but marginal utility falls. 0 c. As the quantity consumed of a product rises total utility falls, but marginal utility,I rises. 0 d. As the quantity consumed rises, total utility falls. You like candy and cake. After using your entire $30 budget at the sugar store you find that the marginal utility from the last candy you consumed was 60 and the last piece of cake was 30. Assuming you have maximized your utility, what could be true about the prices of cake and candy? 0 a. Candy must cost twice as much as cake. 0 b. Cake must cost twice as much as candy. 0 c. Both goods have prices that are equal. You like to eat apples and carrots. The graph shows your budget for both of these items at Harris Teeter. The table shows your total utility when you consume apples or carrots. Given this, what is your optimal consumption point? 30 . 23 '. Carrol! \"' C 15 v.' 10 "i 10 20 30 I10 50 AI'JP'OI Apples (Quantity) Total Utility Carrots (Quantity) Total Utility '10 100 5 50 20 190 10 95 30 270 15 160 40 330 20 205 50 360 23 240 25 250 30 230 O a. C O b. E O c. F Which of the following is a true statement regarding consumer behavior and total utility? O a. Utility will increase with each additional purchase, at an increasing rate. 0 b. Utility will continue to increase at a steady rate with every additional purchase. 0 c. Utility will steadily decrease with each additional purchase. 0 d. Utility will increase with each additional purchase, but at a decreasing rate