Which of the following is true regarding utility along a price consumption curve?

	It is constant.
	It decreases as the price of the commodity falls
	It increases as the price of the commodity falls
	It changes only if income changes.
	It changes only for normal goods but not for inferior goods.

Expert Solution

Answer option b)It increases as the price of the commodity falls

utility along a price consumption curve represents thatutility along a price consumption curve

Price-consumption curve is a graph that shows how a consumer's consumption choices change when price of one of the goods changes. It is plotted by connecting the points at which budget line touches the relevant maximum-utility indifference curve.

Rahul Sunny answered 2 years ago

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