The elasticity of demand is constant along a downward sloping straight-line demand curve

The principle that states that what matters to people is the real value or purchasing power of money is the

A) marginal principle. B) spillover principle. C) real-nominal principle. D) principle of diminishing returns.

When marginal cost is positive, total cost is ________ as output increases.

A) increasing
B) decreasing
C) constant
D) negative
E) undefined