Using marginal utility theory, when the price of a gallon of milk falls, a consumer will buy
A) the same amount of milk as before and buy more of all other goods.
B) more milk.
C) more milk only if its marginal utility is increasing.
D) more milk only if its marginal utility is constant.
B
Economics
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In order for a barter transaction to be successful, there must be a
A) federal tax law in effect. B) high demand for a certain item. C) market for the goods. D) double coincidence of wants.
Economics
The external benefit of a good
A) equals its consumer surplus. B) equals its producer surplus. C) equals its total surplus. D) is a benefit from the good falling on people who are not the consumers of the good.
Economics