Author Question: According to the substitution effect along an indifference curve, when the relative price of a good ... (Read 70 times)

cartlidgeashley · **on:** Jun 29, 2018

According to the substitution effect along an indifference curve, when the relative price of a good falls, the consumer ________ substitutes ________ of that good for the other good.

A) always; more
B) always; less
C) sometimes; more
D) sometimes; less

Question 2

Marginal utility diminishes as consumption of a good decreases.

Indicate whether the statement is true or false