In general, as the consumption of a good or service increases, the marginal benefit from consuming that good or service
A) increases.
B) decreases.
C) stays the same.
D) at first increases and then decreases.
E) at first decreases and then increases.
B
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Suppose that in 2012 ABC Corp. produced 500 million units of a good at an average cost of $2, and in 2013 ABC Corp. expanded its plant capacity and produced 600 million units at an average cost of $1.80. In this range, one can conclude that ABC Corp. is experiencing:
A. economies of scale. B. diseconomies of scale. C. neither economies of scale nor diseconomies of scale. D. diminishing marginal product.
The full-employment level of GDP is
A. endowments. B. long-run aggregate supply. C. economic growth. D. long-run aggregate demand.
A theory of taxation that states that citizens should bear tax burdens in line with their ability to pay taxes is the
A. benefits-received principle. B. equal payment principle. C. ability-to-pay principle. D. equity principle.
___ is when marketers of most consumer products attempt to attract the attention of large numbers of present or potential customers through mass communications such as advertising or publicity. it is speaking to everyone
Fill in the blank(s) with the appropriate word(s).