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Author Question: Suppose that when the price of oranges decreases, Sarita decreases her purchases of peaches. To ... (Read 86 times)

MGLQZ

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on: Jun 29, 2018
Suppose that when the price of oranges decreases, Sarita decreases her purchases of peaches. To Sarita
 
  A) oranges and peaches are normal goods. B) oranges and peaches are substitutes.
  C) oranges and peaches are complements. D) oranges and peaches are inferior goods.

Question 2

When total utility is rising but at a decreasing rate what must be happening to marginal utility? When will total utility stop rising?
 
  What will be an ideal response?


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meganlapinski

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

B

Answer to Question 2

Marginal utility is still positive but it is becoming smaller. Total utility will stop risingwhen marginal utility reaches zero.


MGLQZ

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kjohnson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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