This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If your demand for gasoline is inelastic, when the price of gasoline falls, which of the following ... (Read 112 times)

jjjetplane

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
If your demand for gasoline is inelastic, when the price of gasoline falls, which of the following occurs?
 
  A) Your demand curve for gasoline will shift leftward.
  B) Your demand curve for gasoline will shift rightward.
  C) Your total expenditure on gasoline will increase.
  D) Your total expenditure on gasoline will decrease.

Question 2

Marginal utility theory assumes that when Sally consume less of a good that she was previously consuming more than one unit of, her ________.
 
  A) total utility increases
  B) marginal utility increases
  C) income increases
  D) total utility is maximized


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rekilledagain

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


jjjetplane

  • Hero Member
  • *****
  • Posts: 556
Reply #2 on: Jun 29, 2018
Thank you :)


rekilledagain

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Cutaway diagram of a four cylinder gasoline engine Cutaway diagram of a four cylinder gasoline engine
Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Risk for falls cont'd Risk for falls cont'd
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Video: Monohybrid crosses

For a complete list of videos, visit our video library