As Sean's consumption of rice goes up, his
A) average utility from consuming rice increases.
B) total utility from consuming rice increases.
C) marginal utility from consuming rice increases.
D) elasticity of utility from consuming rice increases.
B
You might also like to view...
Allocative efficiency is achieved in an industry when firms supply those goods and services that provide consumers with a marginal benefit equal to the marginal cost of producing those goods and services
Indicate whether the statement is true or false
Suppose the value of price elasticity of demand for goods manufactured by firms A, B, C, and D are 0, -0.8, -1, and -1.5 respectively. The demand for the good will be elastic for:
a. firms A, B, C, and D. b. firms B, C, and D. c. only firm A. d. firms C and D only. e. only firm D.
_____ are the primary population group with poverty-level incomes in the USA
a. Single-income households b. Households headed by males c. College graduates d. People who do not have high school education e. Retired individuals
As the corporation uses more debt financing, which of the following holds true for the stockholders?
A. The expected return to the stockholders increases and the standard deviation of the return increases. B. The expected return to the stockholders decreases and the standard deviation of that return decreases. C. The expected return to the stockholders increases and the standard deviation of the return decreases. D. The expected return to the stockholders decreases and the standard deviation of the return increases.