If consumers would be willing to purchase the same quantity of a good no matter what its price was, the demand curve would
a. be a vertical line, and demand would be perfectly inelastic.
b. be a horizontal line, and the demand would be perfectly elastic.
c. not exist.
d. be identical to the supply curve for the good.
A
Economics
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The law of diminishing marginal utility states that total utility increases by smaller and smaller increments as more of a good is consumed
Indicate whether the statement is true or false
Economics
When a Japanese company buys a U.S. software company, this transaction will be a:
A. Credit on the current account of the U.S. balance of payments B. Debit on the current account of the U.S. balance of payments C. Credit on the financial account of the U.S. balance of payments D. Debit on the financial account of the U.S. balance of payments
Economics