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20 September, 12:14

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.

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  1. 20 September, 12:16
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    only if MU of the product exceeds the MU of existing product
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