Multiple Choice
In cardinal utility analysis
A) numbers can be assigned to utility.
B) it is recognized that numbers can not be assigned to utility.
C) the concept of marginal utility exists while in ordinal utility analysis marginal utility does not exist.
D) marginal utility always increases as more of a good is consumed.
Correct Answer:
Verified
Correct Answer:
Verified
Q384: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q385: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above
Q386: Economists use what term to describe the
Q387: Total satisfaction is maximized when<br>A) marginal utility
Q388: The fact that consumers will purchase more
Q390: The consumer optimum (for two goods, A
Q391: The price of one piece of pizza
Q392: A decrease in the price of a
Q393: If your money income stays the same
Q394: The marginal rate of substitution is<br>A) equal