For most goods and most people, marginal utility probably
a. continues to increase as larger quantities are purchased.
b. plummets after the first few units but soon begins to rise.
c. declines as consumption increases.
d. is negative after the first unit of a good is purchased.
e. is positive and rising for most goods.
c
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If a firm decreases its capital stock, real wages will likely ________ and the equilibrium quantity of labor will likely ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
From 1973 to 1995, productivity of labor in the U.S
a. declined because of reduced capital formation. b. declined because of slower technological improvement. c. increased because of expanded technological improvement. d. increased because of expanded technological improvement.