Total utility increases if one more unit of a product is purchased and marginal utility is positive.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Cash equivalents are:
A) assets that do not attract interest, and hence generate no additional revenue. B) a part of a bank's liability. C) the amount of deposits held by the public in a particular bank. D) riskless, liquid assets that banks can immediately access.
One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would
A) contain communism. B) help countries avoid the mistakes of the 1920s and 1930s. C) provide a collective defense security for Western Europe and North America. D) ensure that world prices were not rising too rapidly. E) create a single currency in Western Europe.
The more that firms in an economy believe that the demand for their goods is mainly influenced by the aggregate level of demand and not "local conditions," the ________ is the SAS curve and thus the ________ are cycles in real GDP
A) steeper, larger B) steeper, smaller C) flatter, larger D) flatter, smaller
The marginal revenue curve of a monopolistically competitive firm is
A) downward sloping and above the demand curve. B) downward sloping and below the demand curve. C) identical to the demand curve as there are many small firms in the market. D) perfectly elastic.