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Author Question: As Betsy's consumption of coffee increases, her marginal utility from coffee A) increases. B) ... (Read 133 times)

jho37

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As Betsy's consumption of coffee increases, her marginal utility from coffee
 
  A) increases.
  B) decreases.
  C) remains unchanged.
  D) increases first and then decreases.

Question 2

In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will
 
  A) immediately shut down for the short run.
  B) be maximizing profits.
  C) increase its output to increase its profit.
  D) decrease its output to increase its profit.



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jasonq

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Answer to Question 1

B

Answer to Question 2

D





 

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