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3 In pure economic theory/sense: An increase of income can bring in more satisfaction to a consumer. O True O FalseQuestion 4 2 pts Why
3 In pure economic theory/sense: An increase of income can bring in more satisfaction to a consumer. O True O FalseQuestion 4 2 pts Why is the utility maximizing rule PUx/MUx = PUy/MUy? O Trick Question, that is not the utility-maximizing rule O Because at that point the consumer will get the highest utility before it reaches negative utility O At this condition the consumer will get the same level of satisfaction to both products, as such the consumer will feel that they were not short-changed None of the aboveQuestion 5 Given the varying preference of consumers, two indifference curves can cross. O True O False
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