In the model of consumer behavior
A) individuals can choose whatever market basket they want.
B) individuals are capable of making consistent choices reflecting their preferences.
C) for most commodities, total utility falls steadily as more is consumed.
D) an individual's desire for a specific good in a given time period is infinite.
E) marginal utility at first decreases, then increases.
Correct Answer:
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Q5: The following question are based on the
Q6: In general,what percentage of their income do
Q7: The following schedule shows the utility Mr.
Q8: A consumer buying food and clothing is
Q9: The following schedule shows the utility Mr.
Q11: Those who exchange their labor resources for
Q12: The equilibrium market basket is the one
Q13: The following schedule shows the utility Mr.
Q14: In a market economy,firms decide what and
Q15: Utility is a measure of
A) output.
B) usefulness.
C)
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