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Question
When the marginal utility of a commodity is high, its price is low.
When the marginal utility of a commodity is high, its price is low.
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Solution
The correct option is B False
The higher the additional utility a consumer gets from a product the higher would be the price, as the consumer would even more satisfied with the higher marginal utility and would be willing to pay more for this.
The higher the additional utility a consumer gets from a product the higher would be the price, as the consumer would even more satisfied with the higher marginal utility and would be willing to pay more for this.
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