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Author Question: If your demand for a good is ________, then a 1 percent fall in its price will lead you to ________ ... (Read 34 times)

tuffie

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on: Jun 29, 2018
If your demand for a good is ________, then a 1 percent fall in its price will lead you to ________ your expenditures on the good.
 
  A) inelastic; increase
  B) inelastic; decrease
  C) elastic; increase
  D) elastic; decrease

Question 2

Which of the following is consistent with the assumptions of marginal utility theory?
 
  A) As Jose consumes more of one good, his marginal utility from consuming more of that good decreases.
  B) As Jose consumes more of one good, his marginal utility from consuming more of that good increases.
  C) As Jose consumes more of one good, his marginal utility from consuming more of all goods decreases.
  D) As Jose consumes more of one good, his marginal utility from consuming more of all good increases.


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srodz

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

D

Answer to Question 2

A


tuffie

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Reply 2 on: Jun 29, 2018
Wow, this really help

rleezy04

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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