When the price of a commodity falls, we can expect
a. total utility will fall.
b. marginal utility of the last unit purchased will fall.
c. marginal utility of the last unit purchased will rise.
d. purchases will fall because of a change in marginal utility.
b
Economics
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In a Bertrand model with differentiated products,
A) firms can set price above marginal cost. B) firms set price at marginal cost. C) price is independent of marginal cost. D) firms set price independently of one another.
Economics
The debt held by the people themselves neither adds to nor subtracts from national production or consumption. That neutrality, however, doesn't rule out complications
Indicate whether the statement is true or false
Economics