True or False please provide an explanation of the answer   In fact, marginal utility approach explains the law of demand

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True or False please provide an explanation of the answer

 

1. In fact, marginal utility approach explains the law of demand. That is the price and the quantity demanded is inversely related. Substitution effect: as the price of a good falls, consumers substitute now more for that good and less for the other good. (True or False)
2. Price in units of utility increases as the consumer is only willing to pay less for the additionally less satisfying consumption. (True or False)
3. The extra utility a consumer obtains from the consumption of 1 additional unit of a good or service; equal to the change in total utility divided by the change in the quantity consumed. (True or False)
4. Optimum combination means a lower price increases the purchasing power of money income. Thus, enabling a consumer to buy more of a product at a lower price. (True or False)
5. A change in either product prices or money income moves the budget line. (True or False)
6. Total Utility increases to a maximum point as the marginal utility declines to zero. And then it becomes negative. (True or False)
7. Changing the price of one product shifts the budget line and determines a new equilibrium point. (True or False)
8. Income effect means that lower prices give an incentive to substitute that lower priced good for another relatively high price good. (True or False)