The law of diminishing marginal utility guarantees that demand curves will have positive slopes.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Which of the following is TRUE?
A) Real and nominal values are not related. B) Real standards of living can increase without any positive economic growth. C) Real standards of living decrease with positive economic growth. D) Real growth rates fail to account for by price level changes.
"Stranded costs" complicated restructuring in the electricity industry
Indicate whether the statement is true or false
The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the change in consumer surplus associated with a minimum floor price of $40?
A) -$25 B) -$150 C) -$175 D) -$200
If the amount of money demanded exceeds the amount supplied, the:
A. demand-for-money curve will shift to the left. B. money-supply curve will shift to the right. C. interest rate will rise. D. interest rate will fall.