If the total utility of five units of X is 45 units of utility and the marginal utility of the fifth unit is 3, then
A) the total utility of four units is 42 units.
B) the demand curve is likely to be upward sloping.
C) the good is a Giffen good.
D) the substitution effect is equal to 3.
Correct Answer:
Verified
Q21: Demand curves slope downward because
A) the substitution
Q22: refer to the following graph: Q23: An individual's demand curve for X Q24: refer to the following graphs: Q25: refer to the following graphs: Q27: Fill-in-the-Blank Q28: Fill-in-the-Blank Q29: Fill-in-the-Blank Q30: Fill-in-the-Blank Q31: Fill-in-the-Blank
A) shows
-Along an indifference curve _ is constant.
-The rate at which a consumer is
-If at a given combination of X
-If a consumer is choosing the levels
-The rate at which a consumer can
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