Marginal utility
a. increases as more of a good is consumed
b. increases as the total utility of consuming a good increases
c. is the same as the utility of consuming a good
d. is the same as the utility of consuming an additional unit of a good
e. is the same for all units of a good, but varies from one consumer to another
D
You might also like to view...
Refer to the figure above. What is the domestic price of chairs in Lithasia in the absence of trade?
A) $2 B) $3 C) $4 D) $6
Fluctuating exchange rates can alter a multinational firm's profits and losses. German company Bayer produces products in Germany and sells them in the United States
If the dollar depreciates against the euro, then Bayer's sales in the United States should ________ because it will take ________ U.S. dollars to purchase the German-made products. A) fall; more B) fall; fewer C) rise; more D) rise; fewer
Debbie makes porcelain plates in her home and sells them to the Opus gallery. She spent $400 last month on supplies and made 50 plates. She sold the plates to the gallery at $25 per plate. The gallery sells all the plates for $40 each
For all of the 50 plates, what is Debbie's total value added? For all the 50 plates, what is the gallery's total value added?
In which of the following periods did average labor productivity in the United States grow the fastest?
A) 1929 to 1935 B) 1949 to 1973 C) 1973 to 1995 D) 1995 to 2008