Refer to the above table. Amy's utility schedule shows
a. increasing marginal utility throughout the entire schedule.
b. initially increasing marginal utility and then decreasing marginal utility.
c. initially decreasing marginal utility and then increasing marginal utility.
d. diminishing marginal utility throughout the entire schedule.
Answer: d. diminishing marginal utility throughout the entire schedule.
You might also like to view...
If real GDP in 2016 (using 2009 prices) is lower than nominal GDP of 2015, then
A) prices in 2016 are higher than prices in 2015. B) prices in 2016 are lower than prices in 2015. C) real GDP in 2016 is larger than real GDP in 2015. D) nominal GDP in 2016 equals nominal GDP in 2015.
Haiti was once a heavily forested country. Today, 80 percent of Haiti's forests have been cut down, primarily to be burned to create charcoal. The reduction in the number of trees has lead to devastating floods when it rains heavily
This is an example of A) human greed. B) the consequences of not having a market economic system. C) the tragedy of the commons. D) tragic externalities.
Over the long run, the fundamental funding sources for the government include
A) borrowing. B) transfers between government agencies. C) taxes. D) lending.
A current account deficit is generally a result of imports exceeding exports.
a. true b. false