A rational consumer should not consume more of a good when
a. total utility is decreasing
b. marginal utility is diminishing
c. one unit has already been consumed
d. income is decreasing
e. the price increases
A
Economics
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High money prices for scarce goods
A) are one among many possible causes of their scarcity. B) are the basic cause of their scarcity. C) are the effect of their scarcity. D) have nothing to do with their scarcity, because almost all goods are scarce.
Economics
A consumer's preferences provide a ranking of
a. all possible consumption bundles. b. only the consumption bundles that fall on the same indifference curve. c. consumption bundles based their prices. d. consumption bundles based on the consumer's income.
Economics