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Author Question: Along a downward-sloping linear demand curve A) the marginal utility from the consumption of each ... (Read 98 times)

CBme

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on: Jun 29, 2018
Along a downward-sloping linear demand curve
 
  A) the marginal utility from the consumption of each unit of the good rises and the total utility from consuming larger quantities remain constant.
  B) the marginal utility from the consumption of each unit of the good and the total utility from consuming larger quantities remain constant.
  C) the marginal utility from the consumption of each unit of the good falls and the total utility from consuming larger quantities increases.
  D) the marginal utility from the consumption of each unit of the good and the total utility from consuming larger quantities increase.

Question 2

Refer to Table 13-5. What are the firm's profit-maximizing or loss-minimizing price and quantity?
 
  A) price = 12; quantity = 4.
  B) price = 10; quantity = 5.
  C) The firm should shut down temporarily.
  D) This cannot be determined from the information given.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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iceage

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


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