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For the following questions label each statement as True or False and explain why you choose your answer. Explaining your answer is the most important
For the following questions label each statement as True or False and explain why you choose your answer. Explaining your answer is the most important part of the answer. Include specific analysis using what we have learned in class.
1) Utility is easily measured in a cardinal sense.
2) If the MU/P for X is greater than the MU/P for Y. The consumer should consume more of Y and less of X to maximize their utility.
Can you fully explain? I mean more detailed. thank you
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