If the price of a good increases, all else the same, then the consumer's total utility will increase. decrease. remain the same

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If the price of a good increases, all else the same, then the consumer's total utility will increase. decrease. remain the same

as consumption shifts to cheaper goods. decrease if there are no substitutes for the good and remain the same if there are substitutes for the good.

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1 answer:

AnnyKZ [126] · Answer 1 · 2023-07-06T06:52:21+03:00

When the price of a good increases, all else the same, then the consumer's total utility will decrease.

<h3>What is utility?</h3>

Utility simply means the satisfaction that's gotten when one consumes a particular product.

In this case, it should be noted that when the price of a good increases, all else the same, then the consumer's total utility will decrease. This is because less products will be bought.

Learn more about utility on:

brainly.com/question/24922430