Author Question: Marginal utility theory predicts that when income increases a A) person's total utility will not ... (Read 100 times)

berenicecastro · **on:** Jun 29, 2018

Marginal utility theory predicts that when income increases a

A) person's total utility will not change.
B) person might increase the consumption of some normal goods and decrease the consumption of other normal goods.
C) person's consumption of normal goods will increase.
D) None of the above answers is correct because marginal utility theory does not address how demand changes in response to changes in income.

Question 2

The Clayton Act of 1914 was passed to prohibit, in part

A) price discrimination if the effect is to substantially lessen competition or create monopoly.
B) unfair methods of competition and unfair or deceptive business practices.
C) combinations, trusts, or conspiracies that restrict interstate or international trade.
D) business practices that allow one firm to profit at the expense of another whenever the first firm is a monopoly.