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Please explain each answers with clear explanations, thank y

Please explain each answers with clear explanations, thank you 1) The concept of utility is: … Show more Please explain each answers with clear explanations, thank you 1) The concept of utility is: A) objective so that psychologists can measure utility and compare one person’s utility with that of another person. B) subjective so there can be no true measurement ofsomeone’s utility. C) objective so that devices can be developed that would measure a person’s utility D) subjective so measurement of someone’s utility must be done scientifically. 2) If Cy purchases more than one gallon of gas, then his consumer surplus is: A) the difference between what he would be willing to pay and what he does pay. B) the sum of what he is willing to pay and what he does pay. C) what he does pay minus what he is willing to pay. D) value of the last gallon purchased. 3) Marginal utility analysis is unrelated to the demand curve. A) True B) False • Show less


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