Multiple Choice
The marginal utility of leisure time appears to
A) bethe same even for people with widely different incomes.
B) beexempt from the law of diminishing marginal utility.
C) increase as the quantity of available leisure time decreases.
D) equal zero for successful business executives.
Correct Answer:
Verified
Correct Answer:
Verified
Q32: The table below shows the utility schedule
Q33: The goal of a rational consumer is
Q34: If MU<sub>a</sub>/P<sub>a</sub><sub> </sub>= 100/$35 = MU<sub>b</sub>/P<sub>b</sub><sub> </sub>=
Q35: The table shows the total utility data
Q36: A consumer has two basic choices: rent
Q40: If total utility increases as consumption of
Q40: The table shows the utility schedule for
Q144: If the total utility from consuming five
Q203: A change in the relative prices for
Q326: Marginal utility is the accumulation of the