Steven Consumes Staples and Paper Clips

question 121

Multiple Choice

Steven consumes staples and paper clips.He is maximizing his utility in consumption of both goods.The price of staples falls.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)rise;rise
• C)fall;fall
• D)fall;rise

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Definitions:

Judging Type

A personality trait characterized by a preference for structure, organization, and clear decisions, often assessed in psychological typologies.

Myers-Briggs Typology

A psychological framework that categorizes individuals into 16 personality types based on preferences in how they perceive the world and make decisions.

Sensing Types

Individuals who prefer using their senses to process information and focus on the present rather than future possibilities.

Perceiving Types

Reference to personality types that prefer to take in information through intuition and sensing, focusing on flexibility and adaptiveness.