The change in total utility arising from a one-unit increase in consumption of a good is referred to as
a. average utility
b. the principle of diminishing marginal utility
c. real income
d. marginal utility
e. price
D
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An increase in real dividend income minus taxes represents
A) a pure substitution effect. B) a pure income effect. C) a combination of income and substitution effects. D) neither a pure income effect nor a pure substitution effect.
Political freedoms is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.
a. true b. false
An increase in price will lead to an increase in quantity supplied. This statement is
A. the law of supply. B. the law of demand. C. a normative statement. D. untrue always.
In the United States, which agency determines whether domestic firms have been harmed by subsidies and dumping or by a sudden surge in imports and whether protection is warranted?
What will be an ideal response?