The extra utility from consuming one more unit of a good is called ?

Related Mcqs:

Supply is likely to be more price elastic ?

A. In the short run rather than the long run B. If factors of production are relatively immobile between industries C. If there are very few producers D. If it is easy to expand output...

Inferior goods have _________ and luxury goods have _________?

A. negative income elasticity income elasticity greater than 1 B. income elasticity greater than 1, negative income elasticities C. Positive income elasticities, negative income elasticities D. None of the above...

The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?

A. increase quantity demanded, reduce quantity demanded B. increase quantity demanded, increases quantity demanded C. reduce quantity demanded, reduce quantity demanded D. reduce quantity demanded, increase quantity demanded...

The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

A. zero elastic B. elastic C. perfectly elastic D. inelastic...

Aggregate demand will increase if ?

A. consumption falls B. investment falls C. Exports fall D. imports fall...