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 112 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?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Many gasoline service stations have signs posted warning customers to place plastic fuel containers ... Many gasoline service stations have signs posted warning customers to place plastic fuel containers ...
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
A form that the customer should fill out if there is a driveablilty concern to help the service ... A form that the customer should fill out if there is a driveablilty concern to help the service ...
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, ...
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: T cell receptors

For a complete list of videos, visit our video library