Author Question: Which of the following statements cannot be made regarding consumer preferences? a. Pat enjoys her ... (Read 64 times)

abc · **on:** Jul 1, 2018

Which of the following statements cannot be made regarding consumer preferences?
a. Pat enjoys her second cotton candy less than her first.
b. Bill enjoys his second cotton candy as much as the first.
c. Arnie enjoys two cotton candies more than one cotton candy.
d. Arnie enjoys two cotton candies more than Pat enjoys one cotton candy.
e. Bill and Arnie enjoy their second cotton candy less than they do their first.

Question 2

Which of the following is true of units of utility?
a. Each unit is worth 1.
b. They cannot be compared across consumers.
c. They apply to goods but not to services.
d. They do not exist for very wealthy individuals.
e. They are negative for inferior goods.