When the price of a good rises,the ratio of the marginal utility of that good divided by its price _______ and as a result,consumers purchase _______ of that good.
A) rises;more
B) falls;more
C) rises;less
D) falls;less
Correct Answer:
Verified
Q40: When the price of a good falls,the
Q66: For two goods, A and B, the
Q74: Suppose you want to make rational dining
Q75: Taylor's marginal utility from watching movies
Q77: Curly loves pizza,and often has supper at
Q79: Taylor's marginal utility from watching movies
Q80: Pat applies the rational spending rule and
Q81: Fran runs a doughnut shop in
Q82: This graph shows one consumer's demand for
Q83: This table shows demand for shoes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents