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:

External Environment

All external factors outside an organization that influence its operations, including economic, sociocultural, and legal aspects.

MIS Utilisation

The effective use of Management Information Systems to support decision-making, control, analysis, and visualization in an organization.

Information Technology

The use of computers, networking, software, and other equipment or processes to manage and process information.

Real-Time Solutions

Solutions or responses that are immediate or occur without any significant delay, often in the context of technology or customer service.