Solved

If the Marginal Utility of Apples Exceeds the Marginal Cost

Question 15

Multiple Choice

If the marginal utility of apples exceeds the marginal cost of producing apples, then in a free market production of apples will ____, with the likely result that marginal utility will ____.


A) rise; fall
B) fall; rise
C) rise; rise
D) fall; fall

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q10: "Fair" outcomes and "efficient" outcomes are always

Q11: Free-market economies have led to<br>A)high growth rates

Q12: Whenever MC of the last unit produced

Q13: There is only one efficient allocation of

Q14: When the price of the product falls<br>A)consumer's

Q16: Under perfect competition, the market mechanism, without

Q17: Which type of economic system will produce

Q18: If both the MU and MC of

Q19: When a shortage occurs in the market

Q20: In a market economy, goods are allocated