If the price of a good is $0, a consumer will
a. consume an infinite quantity.
b. consume all units with positive marginal utility.
c. consume the entire amount supplied.
d. consume until total utility becomes 0.
B
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The money demand curve will shift to the right if:
A. the nominal interest rate decreases. B. the price level increases. C. the nominal interest rate increases. D. the price level decreases.
The sum of all budget deficits and surpluses is known as the
A) government expenditure. B) budget balance. C) fiscal year. D) government debt.
Which of the following statements is true of contracts?
a. They are used only in case of standardized transactions. b. They protect a seller's investment in the transaction. c. They allow the concerned parties to benefit from short-term price fluctuations in the market. d. They reduce the impact of market risk on the transaction as well as economic value in the long run.
Many economists believe that the collapse of world trade and the depression in the 1930s were linked by a decrease in real income caused by producing on the basis of comparative advantage
a. True b. False Indicate whether the statement is true or false