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.

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources. b. (ii) determine how much of each good gets produced. c. (iii) can be used to predict the impact on the economy of various events and policies. d. all of (i), (ii), and (iii) are correct.

During the current year, luis university received a $50,000 gift from an alumna who specified that it must be used to pay travel costs for faculty to attend health care conferences in foreign countries. during the year the university spent $8,000 to support travel to a health care conference in italy. the $8,000 disbursement will cause a net decrease in which class of net assets?