Author Question: As Sally increases her consumption of a good, she experiences diminishing marginal utility if her ... (Read 34 times)

karlynnae · **on:** Jun 29, 2018

As Sally increases her consumption of a good, she experiences diminishing marginal utility if her total utility

A) increases at a constant rate.
B) increases at a decreasing rate.
C) increases at an increasing rate.
D) decreases.

Question 2

If a product has very few substitutes, demand elasticity is likely to be

A) 1.
B) elastic.
C) infinitely elastic.
D) inelastic.