As More of a Good Is Consumed by an Individual

question 141

Multiple Choice

As more of a good is consumed by an individual,

• A)marginal utility increases.
• B)total utility initially increases.
• C)price falls.
• D)price increases.
• E)total utility stays constant.

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Definitions:

Structural Unemployment

Unemployment that stems from changes in industrial structures, primarily driven by technological progress, rather than by shifts in supply or demand levels.

Frictional Unemployment

Frictional unemployment is a form of temporary unemployment that occurs when workers are transitioning between jobs, often due to personal choices or changing economic conditions.

Unemployment Insurance

Financial support provided by the state to those who are out of work not because of their own doing.

Laid Off

The temporary or permanent dismissal of employees from their job due to economic downturns or company restructuring.