« previous next »

Author Question: If the marginal benefit of consuming another unit of a good is positive, then to reach the ... (Read 43 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
If the marginal benefit of consuming another unit of a good is positive, then to reach the allocatively efficient level of output more of the good should be produced and consumed
 
  A) no matter what.
  B) as long as the consumer can afford to pay for it.
  C) if the total benefit of the good is greater than its total cost.
  D) if the marginal benefit of the good is greater than its marginal cost.

Question 2

The demand for a good is more price inelastic if
 
  A) its price is higher.
  B) the percentage of income spent on it is larger.
  C) it is a luxury good.
  D) it has no close substitutes.


nyrave

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Carpilius convexus consuming Heterocentrotus trigonarius in Hawaii Carpilius convexus consuming Heterocentrotus trigonarius in Hawaii
When the exhaust is lean, the PCM applies a positive current into the pump cell. When the exhaust is lean, the PCM applies a positive current into the pump cell.
Good hand and body mechanics when applying thumb pressure to the back. Good hand and body mechanics when applying thumb pressure to the back.
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Vegetable oils are good sources of essential fatty acids Vegetable oils are good sources of essential fatty acids
Video: Michaelis–Menten equation & Kinetic parameters

For a complete list of videos, visit our video library