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.Management Sciences
A. Utility is at a maximum with the first unit
B. Increasing units of consumption increase the marginal utility
C. Marginal product will fall as more units are consumed
D. Total utility will rise at a falling rate as more units are consumed
Related Mcqs:
- The price elasticity of demand is the ?
- A. ratio of the change in price to the change in quantity demanded. B. ratio of the percentage change in quantity demanded to the percentage change in price. C. ratio of the change in quantity demanded to the change in price. D. ratio of the percentage change in price to the percentage change in quantity … The price elasticity of demand is the ?Read More...
- Price increases from 10 to 12 pence and the price elasticity of demand is -0.5 The quantity demanded was 500 units. What will it be now ?
- A. 550 units B. 500 units C. 450 units D. 490 units...
- A firm that breaks even after all economic costs are paid is earning ?
- A. Economic profit B. Accounting profit C. Normal profit D. Supernormal profit...
- The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ?
- A. elastic B. perfectly elastic C. unitarily elastic D. inelastic....
- The price elasticity of demand measures ?
- A. The responsiveness of quantity demanded to a change in price B. How far a demand curve shifts C. a change in price D. a change in quantity demanded...
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