If the price of a good increases, all else the same, then the consumer's total utility will
A) increase.
B) decrease.
C) remain the same as consumption shifts to cheaper goods.
D) decrease if there are no substitutes for the good and remain the same if there are substitutes for the good.

Question

Quizplus · Accepted Answer

If the price of a good increases, all else the same, then the consumer's total utility will decrease. This is because the consumer will be able to afford to buy less of the good, and therefore will have less total utility.

If the Price of a Good Increases, All Else the Same