Suppose a consumer buys only food and clothing. If the quantity ...

[captainjonesify]

Suppose a consumer buys only food and clothing. If the quantity of food bought decreases while that of clothing remains the same, their marginal utility from food will:
 a. fall relative to the marginal utility of clothing.
 b. rise relative to the marginal utility of clothing.
 c. rise, but not as fast as their marginal utility of clothing rises.
  d. fall, but not as fast as their marginal utility of clothing falls.

Question 2

The resource market comprises of households and firms where the firms sell their resources to the households.
 a. True
  b. False
  Indicate whether the statement is true or false

[jojobee318]

Answer to Question 1

b

Answer to Question 2

False

[captainjonesify]

TYSM

[billybob123]

Thanks for the timely response, appreciate it