A budget line is drawn with
A) quantity of one good on the vertical axis and the quantity of the second good on the horizontal axis.
B) price of one good on the vertical axis and the price of the second good on the horizontal axis.
C) quantity of one good on the vertical axis and its price on the horizontal axis.
D) quantity of one good on the horizontal axis and its price on the vertical axis.
E) quantity of one good on the horizontal axis and its total utility on the vertical axis.
Correct Answer:
Verified
Q4: Diminishing marginal utility means that
A)Ralph will enjoy
Q5: The fact that your fourth slice of
Q6: The first can of Sprite Jack drinks
Q6: The first can of Coke gives 15
Q7: Use the table below to answer the
Q9: The change in total utility that results
Q13: Total utility equals
A)the sum of the marginal
Q17: Marginal utility equals
A)total utility divided by price.
B)total
Q18: As more of a good is consumed,its
A)marginal
Q20: Use the table below to answer the
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