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Author Question: The law of diminishing marginal utility suggests that a demand curve: a. shows a direct ... (Read 81 times)

Sportsfan2111

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on: Jun 30, 2018
The law of diminishing marginal utility suggests that a demand curve:
 a. shows a direct relationship between price and quantity demanded.
  b. has a slope equal to zero.
 c. has a positive slope.
 d. has a negative slope.

Question 2

The resource market is the same as the product market except that, in the resource market:
 a. the demand curve slopes upward.
  b. the households are the sellers and the firms are the buyers.
  c. there is no substitution effect.
  d. the supply curve is perfectly inelastic.
  e. there is no income effect.


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brittrenee

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

d

Answer to Question 2

b


Sportsfan2111

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Reply 2 on: Jun 30, 2018
Excellent

CAPTAINAMERICA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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