Question

Considering a demand curve if the price of a good falls then marginal utility will Select...

Considering a demand curve if the price of a good falls then marginal utility will Select one:

a. increase

b. decrease

c. remain the same

d. may increase, decrease or stay the same

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is (are) constant along a consumers budget constraint? A) Marginal utility of the two goods...
What is (are) constant along a consumers budget constraint? A) Marginal utility of the two goods B) Total income C) Total utility of the two goods D All of the answers are correct 2. Which of the following statements is INCORRECT? A) Normal goods have income elasticities that are positive B) Luxury goods have very high income elasticities C) Inferior goods must also be necessity goods D) Inferior goods have income elasticities that are negative 4. Which of the following...
The demand for a good is elastic if _____ Select one: a. an increase in price...
The demand for a good is elastic if _____ Select one: a. an increase in price leads to an increase in total revenue. b. a decrease in price causes no changes in total revenue. c. an increase in price leads to a decrease in total revenue. d. a decrease in price leads to a decrease in total revenue. e. an increase in price causes no change in total revenue.
If a household’s marginal utility from some good falls very rapidly as it consumes more of...
If a household’s marginal utility from some good falls very rapidly as it consumes more of it, is the price elasticity of its demand for the good likely to be high or low?
If a firm sells a product that falls in the elastic range of the demand curve,...
If a firm sells a product that falls in the elastic range of the demand curve, then, if price doubles, it can be expected that:    total revenue will remain unchanged.    demand will decrease.    total revenue will decrease total revenue will double.    demand will increase.
In general, as the price of a good falls, the consumer buys: more of the good...
In general, as the price of a good falls, the consumer buys: more of the good and the marginal utility falls. less of the good and the marginal utility falls. more of the good and the total utility falls. less of the good and the total utility rises.
At a workers utility maximizing level of leisure and income, their marginal utility with respect to...
At a workers utility maximizing level of leisure and income, their marginal utility with respect to leisure is 5, their marginal utility with respect to income is X, their hourly wage is $6, and their non-labor income is $50. What must X equal? A. 5/56 B. 5/6 C. 30 D. 6 3. Suppose the price of labor increases. In the long run, the amount of capital a firm uses A. will increase B. will decrease C. may increase or decrease...
The price of an input needed to produce good A falls. As a result, the demand...
The price of an input needed to produce good A falls. As a result, the demand for good B shifts to the left. From this we can infer that: Select one: A. none of the other choices is correct B. good A is used to produce good B. C. goods A and B are substitutes. D. good A is used to produce good B. E. goods A and B are complements.
For a unitary elastic demand curve, the price elasticity of demand is everywhere ___________ and total...
For a unitary elastic demand curve, the price elasticity of demand is everywhere ___________ and total expenditures on the good ________________ as price increases. Select one: a. - 1, decreases b. - 1, remain constant c. - 1, increases d. undefined, increases
11.    Imposing an excise tax in a market for a good that exhibits inelastic demand    ...
11.    Imposing an excise tax in a market for a good that exhibits inelastic demand     a.    reduces market supply and generates tax revenue     b.    increases market supply and generates tax revenue     c.    reduces market demand and fails to generate tax revenue     d.    reduces market supply and fails to generate tax revenue 12.    All the combinations of two products that will yield the same total utility to a consumer are reflected in     a.    the budget line...
As you move up along the demand curve, the price elasticity of demand: Select one: a....
As you move up along the demand curve, the price elasticity of demand: Select one: a. Becomes more inelastic b. Is unchanged c. Becomes infinite d. Becomes more elastic e. Falls to zero
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT