Determine whether each of the following statements is true or
false. You are also required to explain why, the answer is true or
false, in other words provide the justification for saying so.
a. According to the theory of consumer behavior, more is always
better.
b. Consumer must understand how much one product is preferred
over another in order to rank order consumption alternatives.
c. Marginal Utility measures the consumer’s overall level of
satisfaction derived from consumption activities.