[Answered] When the price of only one good rises, the relative price of that good A) falls. B) rises. C) ...

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Author Question: When the price of only one good rises, the relative price of that good A) falls. B) rises. C) ... (Read 220 times)

rachel9

Sr. Member
Posts: 495

on: Jun 29, 2018

When the price of only one good rises, the relative price of that good

A) falls.
B) rises.
C) does not change.
D) rises if it is a normal good and falls if it is an inferior good.

Question 2

The table above gives Cathy's total utility from Mt. Dew. Cathy's marginal utility from the 3rd Mt. Dew is ________ units.

A) 75
B) 65
C) 25
D) 20

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ASDFGJLO

Sr. Member
Posts: 335

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

D

rachel9

Sr. Member
Posts: 495

Reply #2 on: Jun 29, 2018

Thank you

ASDFGJLO

Sr. Member
Posts: 335

Reply #3 on: Jun 29, 2018

No problemo

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Author Question: When the price of only one good rises, the relative price of that good A) falls. B) rises. C) ... (Read 220 times)

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