If the price of good A falls, it will: a. increase a consumer's ...

[kfurse]

If the price of good A falls, it will:
 a. increase a consumer's total utility from the consumption of that good.
 b. increase a consumer's marginal utility from consuming the last unit of that good.
  c. decrease a consumer's marginal utility from consuming the last unit of that good.
  d. do both (a) and (c).

Question 2

Earnings of a resource is termed as economic rent if:
 a. it has a perfectly elastic demand.
  b. it has a perfectly elastic supply.
  c. it has a perfectly inelastic supply.
  d. it has a perfectly inelastic demand.
  e. it has no demand.

[brbarasa]

Answer to Question 1

d

Answer to Question 2

c

[kfurse]

Thank you

[brbarasa]

No problemo