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Author Question: As Betsy's consumption of coffee increases, her marginal utility from coffee A) increases. B) ... (Read 136 times)

jho37

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

B

Answer to Question 2

D


jho37

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Reply #2 on: Jun 29, 2018
Thank you


jasonq

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Reply #3 on: Jun 29, 2018
No problemo


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