Author Question: Which of the following is a possible advantage of a free market condition? a. In a free market, ... (Read 73 times)

acc299 · **on:** Jun 30, 2018

Which of the following is a possible advantage of a free market condition?
a. In a free market, consumers are offered discounts on the purchase of products.
b. In a free market, all goods and services are offered for free to households below the poverty line.
c. In a free market, continuous government intervention helps keep the price of products under control.
d. In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price.
e. In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.

Question 2

The total utility from consuming five cups of coffee is 15, 27, 37, 46, and 54 utils, respectively. The marginal utility of the fourth cup of coffee is:
a. 48.
b. 54.
c. 9.
d. 6.