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

Author Question: A good or service is said to be scarce when: a. its price is too low. b. it is offered only to ... (Read 91 times)

Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
A good or service is said to be scarce when:
 a. its price is too low.
  b. it is offered only to high income earners.
  c. no one wishes to purchase it.
  d. it cannot be transported easily.
  e. at a price of zero, there is not enough to satisfy everyone's desire for it.

Question 2

The law of diminishing marginal utility helps explain:
 a. why most individual demand curves are straight lines.
  b. why most supply curves slope upward.
 c. why most individual demand curves slope downward.
  d. why marginal utility falls when total utility falls.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dreamfighter72

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

c


Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
Reply #2 on: Jun 30, 2018
Thank you :)


dreamfighter72

  • Sr. Member
  • ****
  • Posts: 355
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Take a good look at this woman Take a good look at this woman
The Two-Step Persuasion Technique to Encourage Community Service The Two-Step Persuasion Technique to Encourage Community Service
Technical service bulletins (TSBs) are issued by vehicle manufacturers when a fault occurs that ... Technical service bulletins (TSBs) are issued by vehicle manufacturers when a fault occurs that ...
To help make good electrical contact with the terminals without doing any harm, select the ... To help make good electrical contact with the terminals without doing any harm, select the ...
The learning and retention of the mirrordrawing task by H.M. Despite his good retention of the task, ... The learning and retention of the mirrordrawing task by H.M. Despite his good retention of the task, ...
A random sample of 87 airline pilots recruited by an airline service had an average yearly ... A random sample of 87 airline pilots recruited by an airline service had an average yearly ...
Video: Plant Defense Mechanisms from Pathogens

For a complete list of videos, visit our video library