Multiple Choice
If the marginal utility of X is negative, then the last unit of X is
A) a bad
B) a normal good
C) an inferior good
D) not subject to the law of diminishing marginal utility
Correct Answer:
Verified
Correct Answer:
Verified
Q144: Diamonds are more expensive than water because<br>A)markets
Q145: Research conducted by Nicholas Epley and his
Q146: In order for an individual to achieve
Q147: Suppose that the MU/P ratio for good
Q148: Exhibit 20-8<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-8
Q150: Exhibit 20-7<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-7
Q151: If Smith will give up three units
Q152: Exhibit 20-3<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-3
Q153: Because there are so few diamonds in
Q154: Given that MU<sub>X</sub>/P<sub>X</sub> < MU<sub>Y</sub>/P<sub>Y</sub>, consumers who