Author Question: A perfectly competitive market is characterized by highly advertised goods. a. True b. False ... (Read 65 times)

natalie2426 · **on:** Jun 30, 2018

A perfectly competitive market is characterized by highly advertised goods.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If utility is not maximized, then:
a. some change in consumption will increase satisfaction.
b. no change in consumption will increase utility.
c. only a change in income will increase utility.
d. only a change in price will increase utility.
e. the principle of diminishing marginal utility does not hold.