A consumer will buy a new product rather than an existing product
A) when the MU/P of the new product is less than the MU/P of the existing product.
B) when the substitution of the new product for the old product increases the consumer's total utility.
C) only if the new product has a lower price than the existing product.
D) only if the MU of the new product exceeds the MU of the existing product.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A consumer will buy a new product rather than an existing product A) when the MU/P of the new product is less than the MU/P of the existing ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
In the short run, a monopolistically competitive firm will A. select the rate of output where price equals marginal cost. B. make a profit. C. not advertise because the effects will not be realized until the long run. D.
Answers (1)
On January 5, Thomas Company, which follows a calendar year, issued $1,000,000 of notes payable, of which $250,000 is due on January 1 each of the next four years. The proper balance sheet presentation on December 31 is
Answers (2)
The following information pertains to an inventory item: Cost $12.00 Estimated selling price 13.60 Estimated disposal cost. 20 Normal gross margin 2.20 Replacement cost 10.
Answers (1)
Companies engaged in a single line of business most commonly utilize an organizational structure that can be A. a functional (departmental) organizational structure B. either a centralized, principal, or critical-path organizational structure C.
Answers (1)
What toys were Georgia Caroline playing with? - childhood class
Answers (1)
New Questions in Business
A building with a book value of $54,000 is sold for $63,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.
Answers (1)
What is a diversionary incentive? a. a temptation to switch trading partners to get a better deal b. an opportunity to change international agreements while other states are preoccupied with a conflict c. a payoff for avoiding war d.
Answers (1)
A business may decide to pay employee salaries every week, every two weeks, twice a month, or once a month. True or False?
Answers (1)
Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent annually. It has assets of $5 million with an average maturity of 5 years earning interest rates of 6.0 percent annually.
Answers (1)
Why does unoka consult the oracle? what does the oracle tell him?
Answers (1)