Author Question: Assuming that the marginal utility of wealth diminishes implies that A) you have more total ... (Read 70 times)

c0205847 · **on:** Jun 29, 2018

Assuming that the marginal utility of wealth diminishes implies that

A) you have more total utility with 100 than with 1,000.
B) you have more total utility with 1,000 than with 1,001.
C) an additional dollar increases your total utility more if you only have 100 than if you have 1,000.
D) an additional dollar does not increase your total utility regardless of your wealth.

Question 2

Pollution occurs when lumber is produced. If the lumber market is unregulated, there would be

A) overproduction of lumber compared to the efficient amount.
B) underproduction of lumber compared to the efficient amount.
C) sometimes overproduction and sometimes underproduction of lumber compared to the efficient amount.
D) an external benefit to producing lumber.