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Author Question: According to the substitution effect along an indifference curve, when the relative price of a good ... (Read 65 times)

cartlidgeashley

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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


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jazzlynnnnn

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

A

Answer to Question 2

FALSE


cartlidgeashley

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

bblaney

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Reply 3 on: Yesterday
Excellent

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