A firm produces leather handbags and leather shoes. If there are economies of scope, the product transformation curve between handbags and shoes will be

If you invest $2,500 in a mutual fund with a 5 percent front-end load, _____

a. $50 will be used to pay for the sales charge and $2,000 will be invested in the fund b. there will be no sales charge and the entire $2,500 will be invested in the fund c. the fees for the fund manager will be paid only after a period of 20 years d. $125 will be paid to the fund manager and $2,375 will be invested in the fund e. a fixed amount of $250 will be paid to the fund manager every year

Which of the following most clearly illustrates the law of diminishing marginal utility?

a. The total satisfaction from consuming a good falls as more of the good is consumed. b. Marginal utility falls as total utility falls. c. The quantity of a good demanded falls as its price rises. d. The additional satisfaction from consuming a good falls as more of the good is consumed. e. There is a direct relationship between the price of a good and its total utility.