The demand for health care is perfectly elastic.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Diminishing marginal utility means that:
a. marginal utility is maximized when consumers get the same amount of total utility from every good they consume.
b. beyond some point, added units of a product provide lower and lower amounts of marginal utility.
c. a consumer would get more utility from the last unit of a good consumed when that good costs 3 than when it costs 1.
d. both (b) and (c) are true.
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