The reduction in average cost resulting from an increase in the volume of a good or services produced is called:

Marginal utility theory predicts that if a consumer's income decreases, the consumer

A) buys fewer normal goods. B) buys fewer inferior goods. C) buys more of all goods. D) might either increase or decrease purchases of normal goods.

In the case of Alan Bakke, the courts ruled that preferential admissions (rigid quotas) were acceptable

Indicate whether the statement is true or false