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Author Question: A good or service is said to be scarce when: a. its price is too low. b. it is offered only to ... (Read 59 times)

Chloeellawright

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on: Jun 30, 2018
A good or service is said to be scarce when:
 a. its price is too low.
  b. it is offered only to high income earners.
  c. no one wishes to purchase it.
  d. it cannot be transported easily.
  e. at a price of zero, there is not enough to satisfy everyone's desire for it.

Question 2

The law of diminishing marginal utility helps explain:
 a. why most individual demand curves are straight lines.
  b. why most supply curves slope upward.
 c. why most individual demand curves slope downward.
  d. why marginal utility falls when total utility falls.


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dreamfighter72

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

c


Chloeellawright

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Reply #2 on: Jun 30, 2018
Thank you :)


dreamfighter72

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Reply #3 on: Jun 30, 2018
Happy to help you


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