What demand structure do products which are urgently needed as necessities likely to possess. a. Elastic b. Inelastic c. relatively elastic d. perfectly inelastic
What demand structure do products which are urgently needed as necessities likely to possess. a. Elastic b. Inelastic c. relatively elastic d. perfectly inelastic
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 1SCQ: Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can...
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What demand structure do
products which are urgently
needed as necessities likely to
possess.
a. Elastic
b. Inelastic
c. relatively elastic
d. perfectly inelastic
If you have Marginal utility of 2
with a Total utility equals to 56,
then when marginal utility is
reduce to zero while Total utility
remains the same, what does it
mean?
a. satisfaction diminishes
b. TU is maximum
c. Quantity diminishes
d. Marginal utility is maximum
If you have Marginal utility of 2
with a Total utility equals to 56,
then when marginal utility is
reduce to zero while Total utility
remains the same, what does it
mean?
a. at 56 utils of MU equals zero, utility
begins to gain momentum
b. at 56 utils of MU equals zero, utility
begins to diminish
c. at 56 utils of MU equals zero. utility
begins to increase
d. at 56 utils of MU equals zero, utility
begins to upswing
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