The law of diminishing marginal utility explains why
a. most individual demand curves are straight lines.
b. the consumer's optimal purchase is at the tangency of an indifference curve and the budget line.
c. most individual demand curves slope downward.
d. marginal utility falls when total utility falls.
c
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The General Motors Acceptance Company (GMAC) is a
A) sales finance company. B) consumer finance company. C) business finance company. D) public finance company.
An argument in favor of price discrimination is that this pricing strategy permits some consumers who otherwise would be excluded from a market to buy a good or service
a. True b. False Indicate whether the statement is true or false
If the U.S. dollar was worth 0.8 euros, and the dollar appreciated, it might now be worth:
A. 0.7 euros. B. 0.9 euros. C. 0.8 euros. D. None of these statements is possible.
Lisa prepared a delicious dinner for her friends after making the following purchases at the local supermarket. For which of the purchases would Lisa not be choosing among goods having product differentiation?
a. canned tomatoes b. fresh eggplant c. boxed spaghetti d. shredded cheese e. red wine