G Marginal utilt Google G which of the following S ilasti

\\ G Marginal utilt . Google : G which of the following S ?ilasticity of Dem and Stu G When the price of a ron × × × ttps/faytechcc.blackboard.com/webapps/assessment/take/launch jsp course assessment id 78578 1&course; id 13672 18 do nothing because she/he is in equilibrium. QUESTION 3 Consumer equilibrium exists when ratio of marginal utlity to price for all goods and services is equal the total utility of each good and service consumed is equal. the marginal utility of each good and service consumed is equal. the marginal utility of each good and service consumed equals its price. QUESTION 4 When the price of a normal good falls, then: both the income and substitution effects combine to cause the quantity demanded to increase all of the above the substitution effect will cause people to buy more because the good is relatively less expensive. the income effect will cause people to buy more because of the increased purchasing power associated with the lower price Cliek Sove and Subroit to save and subenit. Cick Savve All Ansavers to sove all answers Save All Answo

Solution

1.A consumer is in equilibrium when his total utility is maximum

Answer-B(second choice)

3.Condition for consumer\'s equilibrium:

MUx/MUy=Px/Py

answer-ranswer-ratio of marginal utility to price is equal.

4.Normal gods follow inverse relationship between price and quantity and direct relation between income and quantity.

answer-all of the above.