Homework Answers
Ans. d. if marginal utility is higher price is lower along the demand curve
According to the law of the diminishing marginal utility when more of units of a good consume then by consuming every additional unit of a good leads to lower utility so the consumer will consume more until marginal utility greater than the price he/she paid and the consumer will consume more when the price will be lower.
and along the demand curve when price is lower then consumer comsues more units of a good that lead to higher satisfaction ( marginal utility level).
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Which of the following is true regarding marginal utility? Multiple Choice If marginal utility is lower...
Which of the following statements is correct? Multiple Choice ( ) When marginal utility is zero,...
Which of the following statements is correct?Multiple ChoiceWhen marginal utility is zero, an increase in the quantity consumed will make total utility zero.When marginal utility is decreasing, an increase in the quantity consumed will decrease total utility.When marginal utility is positive, an increase in the quantity consumed will increase total utilityWhen marginal utility is positive, an increase in the quantity consumed will decrease total utility
Which of the following statements is true regarding variable costing? Multiple Choice It is a traditional...
Which of the following statements is true regarding variable costing? Multiple Choice It is a traditional costing approach. It makes it easier to manipulate earnings with changes in production levels. Only manufacturing costs that change in total with changes in production level are included in product costs. It treats overhead in the same manner as absorption costing. It is not permitted to be used for managerial reporting.
Which of the following statements is true? Multiple Choice Lower current ratios suggest greater liquidity. Companies s...
Which of the following statements is true? Multiple Choice Lower current ratios suggest greater liquidity. Companies should maintain the highest current ratio possible. Higher current ratios suggest greater liquidity. Companies should maintain the lowest current ratio possible. Which of the following would not likely appear on a classified balance sheet? Multiple Choice Current assets Long-term liabilities Current retained earnings Long-term assets
2 . 8) Diminishing marginal utility means that A) marginal utility decreases as consumption decreases. B)...
2 . 8) Diminishing marginal utility means that A) marginal utility decreases as consumption decreases. B) marginal utility increases as consumption increases. C) marginal utility decreases as consumption increases. D) total utility decreases as marginal utility decreases E) total utility decreases as marginal utility increases. 9) Which of the following is the best example of how the invisible hands works? A) The government places restrictions on prices of products, B) The government decides to force firms to produce more electricity....
hich of the following is true in the short run? Multiple Choice The average total cost...
hich of the following is true in the short run? Multiple Choice The average total cost curve is a parabola that opens to the right along the X axis. The marginal cost curve is a parabola that opens down along the Y axis. The average variable cost curve is a parabola that opens up along the X axis. The average total cost curve is a parabola that opens up along the Y axis.
Which of the following statements is TRUE regarding the abbreviation CVA? Multiple Choice It is a...
Which of the following statements is TRUE regarding the abbreviation CVA? Multiple Choice It is a disease of the brain and spinal cord. It is an accident involving the blood vessels of the brain. It is a disease of the blood vessels of the brain. It is a diagnostic procedure for studying the brain. It is a procedure used to examine blood vessels in the brain.
Question 13 (1 point) In consumer equilibrium, which of the following is true? The marginal utility...
Question 13 (1 point) In consumer equilibrium, which of the following is true? The marginal utility from the consumption of each good is the same. The marginal utility from the consumption of each good is zero. The marginal utility from the consumption of the last dollar's worth of each good is the same. The total utility from the consumption of each good is the same.
Which of the following is true regarding debits and credits? Multiple Choice Whether a debit or...
Which of the following is true regarding debits and credits? Multiple Choice Whether a debit or credit increases or decreases an account depends on the type of account. Debits increase an account and credits decrease an account. Credits increase an account and debits decrease an account. There are some circumstances that allow for debits and credits to not equal.
When individuals have maximized their time utility, which of the following is true? a) their marginal...
When individuals have maximized their time utility, which of the following is true? a) their marginal utility is the same across all three allocations of time b) their marginal utility of leisure is the highest c) they have increasing marginal disutility d) their opportunity cost of leisure is less than their opportunity cost of non-market work
Marginal utility is equal to rev: 04_09_2018 Multiple Choice change in total utility divided by change...
Marginal utility is equal to rev: 04_09_2018 Multiple Choice change in total utility divided by change in quantity consumed. change in total utility multiplied by change in quantity consumed. total utility divided by quantity consumed. total utility multiplied by quantity consumed.
Which of the following statements is true? Multiple Choice Lower current ratios suggest greater liquidity. Companies should maintain the highest current ratio possible. Higher current ratios suggest greater liquidity. Companies should maintain the lowest current ratio possible. Which of the following would not likely appear on a classified balance sheet? Multiple Choice Current assets Long-term liabilities Current retained earnings Long-term assets
2 . 8) Diminishing marginal utility means that A) marginal utility decreases as consumption decreases. B) marginal utility increases as consumption increases. C) marginal utility decreases as consumption increases. D) total utility decreases as marginal utility decreases E) total utility decreases as marginal utility increases. 9) Which of the following is the best example of how the invisible hands works? A) The government places restrictions on prices of products, B) The government decides to force firms to produce more electricity....
hich of the following is true in the short run? Multiple Choice The average total cost curve is a parabola that opens to the right along the X axis. The marginal cost curve is a parabola that opens down along the Y axis. The average variable cost curve is a parabola that opens up along the X axis. The average total cost curve is a parabola that opens up along the Y axis.
Which of the following statements is TRUE regarding the abbreviation CVA? Multiple Choice It is a disease of the brain and spinal cord. It is an accident involving the blood vessels of the brain. It is a disease of the blood vessels of the brain. It is a diagnostic procedure for studying the brain. It is a procedure used to examine blood vessels in the brain.
Question 13 (1 point) In consumer equilibrium, which of the following is true? The marginal utility from the consumption of each good is the same. The marginal utility from the consumption of each good is zero. The marginal utility from the consumption of the last dollar's worth of each good is the same. The total utility from the consumption of each good is the same.
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