The slower the marginal utility declines as more of a good is consumed the:
A. larger the opportunity cost of the good.
B. smaller the elasticity of demand.
C. smaller the opportunity cost of the good.
D. greater the elasticity of demand.
Answer: D
Economics
You might also like to view...
Inflation was a problem during the Great Depression
Indicate whether the statement is true or false
Economics
The FDIC insures deposits in: a. all the commercial banks across the U.S
b. Federal Reserve member banks only. c. any banking institution that sells FDIC insurance. d. any banking institution that purchases FDIC insurance. e. any bank approved by the Fed.
Economics
Fireworks on the night on July 4th are neither rival nor excludable.
Answer the following statement true (T) or false (F)
Economics
Along a supply curve, product price and producer surplus are inversely related.
a. true b. false
Economics