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Question
Which of the following is NOT consistent with the law of diminishing marginal utility?
A) Newspaper vending machines are not as secure as soft drink machines.
B) A student selects to eat at an all -you-can-eat restaurant rather than at a restaurant that charges for refills.
C) A studentʹs enjoyment of opera increases the more she listens to it.
D) A symphony has free throat lozenges in their lobby.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Refer to the above figure. At a price of $2 per gallon, there isA) a surplus of 20,000 gallons per month. B) a shortage of 40,000 gallons per month.C) a shortage of 80,000 gallons per month. D) a shortage of 60,000 gallons per month.
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Refer to the above figure. Other things being equal, when the government imposes a price floor at P2, then we would expectA) the quantity demanded is Q 2.B) a surplus will occur.C) price to decline until an equilibrium is achieved at P0.D) consumers to bid against each other for goods and force the price even higher.
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Markets tend to underallocate resources to the production of a good whenA) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.
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Which of the following statements is FALSE?
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