The value of money or income in terms of the quantity of goods the money can buy is called its

According to the paradox of value, expensive goods, such as gemstones, provide consumers with

A) high total utility and low marginal utility. B) low total utility and low marginal utility. C) low total utility and high marginal utility. D) high marginal utility and high total utility.

Once a division manager sees that production goal for a time period is likely to be met

a. he has an incentive to increase the pace of production b. he has an incentive to decrease the pace of production c. he does not have an incentive to change the pace of production d. he has an incentive to produce other products