Marginal utility can be:
A) positive, but not negative
B) positive or negative, but not zero.
C) positive, negative, or zero.
D) decreasing, but not negative.
Ans: C) positive, negative, or zero.
Economics
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The total product is 10 units. The average total cost is $30 and the average fixed cost is $10. What is the amount of the total variable cost?
A) $20 B) $200 C) $300 D) $10 E) It is impossible to determine with the information given.
Economics
The substitution effect of a decrease in the price of an inferior good encourages the consumer to purchase more of the good while the income effect encourages the consumer to purchase less of it
a. True b. False
Economics