Author Question: Which of the following is a basic assumption of an economic analysis? a. Private property rights ... (Read 77 times)

meagbuch · **on:** Jun 30, 2018

Which of the following is a basic assumption of an economic analysis?
a. Private property rights exist and are secure.
b. A controlled market structure is the key to economic growth.
c. In a free market, resources are owned by the government.
d. There are no private property rights under a free market economy.
e. Social well-being is the prime objective of an entrepreneur.

Question 2

Marginal utility:
a. generally increases as more of a good is acquired.
b. generally remains constant as more of a good is acquired.
c. generally decreases as more of a good is acquired.
d. begins to fall when total utility reaches its highest point.