Author Question: The principle of decreasing marginal benefit means that as the quantity of a good consumed A) ... (Read 52 times)

segrsyd · **on:** Jun 29, 2018

The principle of decreasing marginal benefit means that as the quantity of a good consumed

A) decreases, its marginal benefit decreases.
B) increases, its marginal benefit decreases.
C) increases, its total benefit decreases.
D) None of the above answers is correct.

Question 2

Which of the following items has the largest price elasticity of demand?

A) food
B) fruit
C) oranges
D) oranges from a Wal-Mart SuperCenter