1 True or False 30 points Indicate whether the following fiv

1. True or False (30 points). Indicate whether the following five statements are true or false by marking the correct choice, and justify your answer. There will be no credit for answers without an explanation.

(6 points) When comparing different bundles, if a consumer gets twice as much utility from another bundle, it means that the consumer is twice as happy.
True False

Solution

false. we just need to know how they rank choices while comparing bundles. if a consumer gets twice as much utility from another bundle the consumer prefers the second bundle.