A decrease in price along the elastic segment of a demand curve will
a. increase total utility, marginal utility, consumer surplus, and consumer expenditure
b. decrease total utility, consumer surplus, and consumer expenditure and increase marginal utility
c. decrease total utility and consumer surplus and increase consumer expenditure and marginal utility
d. increase consumer surplus through a decrease in consumer expenditure
e. decrease consumer surplus through an increase in consumer expenditure
Question 2
As price falls along a given demand curve for pretzels,
a. quantity demanded, total utility, marginal utility, and consumer surplus increase; consumer expenditure decreases
b. quantity demanded, total utility, and consumer surplus increase; marginal utility and consumer surplus decrease
c. quantity demanded, total utility, consumer surplus, and consumer expenditure increase; marginal utility decreases
d. quantity demanded, total utility, and consumer surplus increase; marginal utility decreases; consumer expenditure might increase, decrease, or remain constant
e. quantity demanded, total utility, marginal utility, consumer surplus, and consumer expenditure all increase
A sigmoid (cooperative) binding curve
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