Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

1. If the price of good A? falls, then when the consumer makes his new? utility-maximizing choice? _______.

A. the marginal utility from consuming good A will be lower than before

B. the quantity consumed of all other goods will increase

C. the marginal utility from all other goods will be lower than before

D. the quantity of the good A consumed will decrease

2. Choose the statement that is in correct.

A. Total utility depends on the level of consumption.

B. The units of total utility are arbitrary.

C. Total utility is the total benefit that a person gets from the consumption of goods and services.

D. Total utility is positive but diminishes as consumption of a good increases.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92203563

Have any Question?


Related Questions in Business Economics

Amongnbsp22- tonbsp27-year-oldsnbsp32 say they

Among 22?- to 27?-year-olds, 32?% say they have called a talk show while under the influence of alcohol. Suppose seven 22 to 27?-year-olds are selected at random. ?(a) What is the probability that at least one has not ca ...

Lucinda buys a new gaming system for 500 she receives

Lucinda buys a new gaming system for? $500. She receives consumer surplus of? $175 from the purchase. How much does Lucinda value her GPS? system?

With smaller companies saving thousands and larger

With smaller companies saving thousands and larger companies saving billions through flexible manufacturing, if you are a discrete parts manufacturer seeking to be more lean, it is important to consider whether this migh ...

A if the required reserve ratio is 250 percent what is the

a. If the required reserve ratio is 2.50 percent, what is the monetary multiplier b. If the monetary multiplier is 5, what is the required reserve ratio?

In a study of helicopter usage and patient survival among

In a study of helicopter usage and patient? survival, among the 55 comma 55,032 patients transported by? helicopter, 227 of them left the treatment center against medical? advice, and the other 54 comma 54,805 did not le ...

You are given the sample mean and the population standard

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean.  A random sample of 44 gas grills has a mean price of $ ...

Suppose the price of oranges rises ceteris paribusa what

Suppose the price of oranges rises. Ceteris paribus, a. What effects would that have on the market for orange juice? b. What would happen to the quantity demanded of oranges? c. What would happen to the price and quantit ...

In some states allow requires drivers to turn on their

In some states allow requires drivers to turn on their headlights when driving in the rain. A highway patrol officer believes that lesson one-quarter of all the drivers follow this rule. As a test, he randomly samples 20 ...

One study based on responses from 1 013 randomly selected

One study, based on responses from 1, 013 randomly selected teenagers, concluded that 43% of teenagers cite grades that their greatest source of pressure. Use a 0.05 significance level to test the claim that fewer than h ...

Pnbspnbsp165nbsp-nbsp25q herenbspqnbspis measured in

P  = 165 - 2.5 Q . (Here  Q  is measured in millions of barrels per day.) OPEC's marginal cost per barrel is $15. a. What is OPEC's optimal level of production? What is the prevailing price of oil at this level? b. Many ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As