When the marginal utility from the consumption of commodi...
When the marginal utility from the consumption of commodity X (Mux) is greater than the price commodity X (Px), a rational consumer should
Strive to remain in disequilibrium
Consume the same quantity of commodity X
Consume more of commodity X
Reduce consumption of commodity X
Correct answer is C
A rational consumer should consume more of commodity X when the marginal utility from the consumption of commodity X (Mux) is greater than the price commodity X (Px). This is because the consumer is getting more satisfaction from consuming each additional unit of commodity X than they are paying for it. As a result, the consumer should continue to consume more of the commodity until the marginal utility is equal to the price.
A price floor is usually fixed ...
In developing countries, it is easier to obtain accurate national income estimates through the ...
In order to increase revenue, government should tax commodities for which demand is? ...
From the table above, Calculate the price elasticity of supply ...
Development plans have not been successful in some developing countries largely because of ...