Steven Consumes Staples and Paper Clips

question 56

Multiple Choice

Steven consumes staples and paper clips.He is maximizing his utility in consumption of both goods.The price of paper clips rises.Assuming that diminishing marginal utility applies to both goods,as Steven adjusts to this event,the marginal utility of staples will _____,and the marginal utility of paper clips will _____.

• A)rise;fall
• B)fall;rise
• C)rise;rise
• D)fall;fall

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Definitions:

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Data Trends

The observable patterns or directions in which data moves over time or across different categories, often analyzed for predictive insights.

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A feature in spreadsheet and charting software that allows users to customize the components of a chart, such as titles, legends, and labels.