If a product has a high marginal utility, then
A. The demand curve will be downward-sloping.
B. A consumer is willing to pay a high price for it.
C. Consumers will not purchase any more of the good.
D. Consumers will also have a low total utility.
Answer: B
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a. Japan. b. The United Kingdom. c. China. d. Canada. e. Mexico.
No matter what the price of orange juice is , Jill spends $20 a week on orange juice. We can conclude that the absolute value of the price elasticity of demand for orange juice for Jill is
A) greater than 1. B) equal to 1. C) less than 1. D) equal to 0.
Explain the principal–agent problem in job performance and briefly describe actions that can be taken to correct the problem
What will be an ideal response?
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