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The fact that rubies are more expensive than milk reflects the fact that for most consumers
  • a)
    the total utility from rubies exceeds that from milk
  • b)
    the marginal utility from rubies equals that from milk
  • c)
    more milk is consumed than rubies
  • d)
    a quart of rubies is prettier than a quart of milk
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The fact that rubies are more expensive than milk reflects the fact th...
Because more milk is consumed, the MU from milk is lower than the MU from rubies.
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The fact that rubies are more expensive than milk reflects the fact that for most consumersa)the total utility from rubies exceeds that from milkb)the marginal utility from rubies equals that from milkc)more milk is consumed than rubiesd)a quart of rubies is prettier than a quart of milkCorrect answer is option 'C'. Can you explain this answer?
Question Description
The fact that rubies are more expensive than milk reflects the fact that for most consumersa)the total utility from rubies exceeds that from milkb)the marginal utility from rubies equals that from milkc)more milk is consumed than rubiesd)a quart of rubies is prettier than a quart of milkCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The fact that rubies are more expensive than milk reflects the fact that for most consumersa)the total utility from rubies exceeds that from milkb)the marginal utility from rubies equals that from milkc)more milk is consumed than rubiesd)a quart of rubies is prettier than a quart of milkCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The fact that rubies are more expensive than milk reflects the fact that for most consumersa)the total utility from rubies exceeds that from milkb)the marginal utility from rubies equals that from milkc)more milk is consumed than rubiesd)a quart of rubies is prettier than a quart of milkCorrect answer is option 'C'. Can you explain this answer?.
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