Multiple Choice
An inferior good is a good whose quantity demanded
A) rises when its price falls.
B) falls when the price of a related good falls.
C) falls when the consumer's total utility rises.
D) rises when the consumer's real income falls.
Correct Answer:
Verified
Correct Answer:
Verified
Q174: The marginal utility of a unit of
Q175: Figure 5-17 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 5-17
Q176: Figure 5-9 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 5-9
Q177: A change in the price of a
Q178: Which of the following is characteristic of
Q180: Consumer's surplus is what one consumer is
Q181: Figure 5-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 5-11
Q182: The law of diminishing marginal utility states
Q183: Total utility increases if one more unit
Q184: An indifference curve is a line showing<br>A)combinations