Negative marginal utility implies that:
a. ?the price of a good increases as additional units are consumed.
b. ?total utility is negative.
c. ?total utility decreases as additional units of a good are consumed.
d. ?the total revenue spent by a consumer on a good decreases as more of the good is purchased.
e. ?marginal utility increases as additional units of a good are consumed.
Answer: c. ?total utility decreases as additional units of a good are consumed.
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The Federal Reserve district borders follow exclusively state borders
a. True b. False
When a consumer experiences a price decrease for an inferior good, if the income effect is
a. less than the substitution effect, the demand curve will be downward sloping. b. greater than the substitution effect, the demand curve will be upward sloping. c. less than the substitution effect, the demand curve will be upward sloping. d. both a) and b) are correct.