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Author Question: Scarcity impels an individual to make choices. a. True b. False Indicate whether the statement is ... (Read 152 times)

shenderson6

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on: Jun 30, 2018
Scarcity impels an individual to make choices.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is true?
 a. Total utility is the aggregate level of satisfaction that results from consumption of a given number of goods and services.
  b. Marginal utility is the additional satisfaction generated by the last unit of a good that is consumed.
 c. Total utility equals marginal utility of the last unit times the number of units consumed.
 d. Both a. and b. are true.


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jojobee318

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


shenderson6

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Reply 2 on: Jun 30, 2018
Wow, this really help

bdobbins

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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