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Which one of the following statements is incorrect? O A. Utility is the degree of satisfaction that a consumer derives (or expects to derive) from
Which one of the following statements is incorrect? O A. Utility is the degree of satisfaction that a consumer derives (or expects to derive) from the consumption (use) of a product or service (eg carrots). B. Total utility is the sum of all the marginal utilities. C. A consumer is in equilibrium when his or her total utility is at a maximum O D. It is possible to make inter-personal comparisons of utility, that is, it is possible to compare the utility derived by two different consumers from the consumption of the same product (eg beef). O E. Weighted marginal utility is the marginal utility per unit divided by the price of the product in
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