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Author Question: The difference between the maximum amount a person is willing to pay for a good and its current ... (Read 61 times)

luvbio

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on: May 25, 2020

Question 1

If marginal utility has become negative, we can infer that
◦ total utility is falling with additional consumption.
◦ total utility is increasing by smaller and smaller amounts.
◦ total utility is also negative.
◦ the product is an inferior good.

Question 2

The difference between the maximum amount a person is willing to pay for a good and its current market price is known as
◦ the substitution effect.
◦ consumer surplus.
◦ profits.
◦ marginal utility.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by luvbio on May 25, 2020

Tonyam972

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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luvbio

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Reply 2 on: May 25, 2020
Wow, this really help

xiazhe

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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