As price falls along a given demand curve for pretzels,
a. quantity demanded, total utility, marginal utility, and consumer surplus increase; consumer expenditure decreases
b. quantity demanded, total utility, and consumer surplus increase; marginal utility and consumer surplus decrease
c. quantity demanded, total utility, consumer surplus, and consumer expenditure increase; marginal utility decreases
d. quantity demanded, total utility, and consumer surplus increase; marginal utility decreases; consumer expenditure might increase, decrease, or remain constant
e. quantity demanded, total utility, marginal utility, consumer surplus, and consumer expenditure all increase
D
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Start-up costs:
A. have no impact on the number of firms in an industry because they are sunk costs. B. are the one-time costs incurred when beginning the production of a new product. C. are inversely related to variable costs. D. are always greater than marginal costs.
A country undertakes a revaluation in order to
A) decrease its net exports. B) move to a flexible exchange rate system. C) lower the value at which its currency is pegged. D) increase its net exports.
How can changes over time of the average height of the people in a country help to indicate the standard of living in a country?
What will be an ideal response?
Explain why national income and domestic product must be equal