When diminishing marginal utility sets in, total utility must be negative
Indicate whether the statement is true or false
FALSE
You might also like to view...
For any new deposits into the banking system, the deposit expansion multiplier provides
A) no useful information regarding the potential expansion of the nation's money supply. B) an exact prediction of the expansion of the nation's money supply. C) a theoretical limit on the potential expansion of the nation's money supply. D) an argument that deposits don't effect the nation's money supply at all.
Which of the following is not true for a profit maximizing single-price monopolist in the long run?
A. Demand is inelastic. B. Marginal revenue equals marginal cost. C. Price is greater than marginal revenue. D. It will make profit or break even.
When a country or a region of a country specializes in producing the product that has the lower opportunity cost compared to another country or region, it is practicing
A. cost disadvantage. B. regional advantage. C. comparative advantage. D. absolute advantage.
Refer to the above figure. Autonomous consumption is
A. only at point A. B. to the left of point B. C. only at point B. D. to the right of point B.