Multiple Choice
Which of the following is not a prediction of marginal utility theory?
A) Other things remaining the same, the higher the price of a good, the smaller the quantity demanded.
B) Other things remaining the same, the lower the price of a good, the greater the quantity demanded.
C) Other things remaining the same, the lower the price of a good, the smaller is the consumption of substitutes for that good.
D) The law of demand.
E) Diminishing marginal utility.
Correct Answer:
Verified
Correct Answer:
Verified
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