Author Question: When economists speak of normal goods they mean goods for which A) the demand curve slopes ... (Read 56 times)

cartlidgeashley · **on:** Jun 29, 2018

When economists speak of normal goods they mean goods for which

A) the demand curve slopes downward.
B) marginal utility is positive.
C) marginal utility decreases as consumption increases.
D) demand decreases when incomes fall.

Question 2

High concentration measures will understate the extent of competition in a market if

A) the true geographical scope of the market is global rather than national.
B) entry into the industry is easy.
C) the geographical scope of the market is regional rather than national.
D) Both answers A and B are correct.