If the quantity you buy of a good increases when your income increases, the good is clearly a(n)

If a firm wanted to know whether the demand for its product was elastic, unit elastic, or inelastic, then the firm could

A) survey competitors and ask them what they think demand elasticity is for the product. B) not do anything as there is no way to find an elasticity value. C) change price a little bit and observe what happens to total revenue. D) talk to its customers.

In the context of consumer choice theory, utility means:

a. usefulness. b. satisfaction. c. practicality. d. boring. e. action.