The above figures show the market for gasoline. Which figure shows the effect of motorists increasing the number of times they take the bus to work rather than driving their own cars?

A) Figure A
B) Figure B
C) Figure C
D) Figure D

B

Economics

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A ________ model of the household assumes that a family maximizes its happiness under a budget constraint that pools all of its income, wealth, and time

A) unitary B) secondary C) tertiary D) primary

Economics

Using marginal utility theory, when the price of a gallon of milk falls, a consumer will buy

A) the same amount of milk as before and buy more of all other goods. B) more milk. C) more milk only if its marginal utility is increasing. D) more milk only if its marginal utility is constant.

Economics