If a Product Has a High Marginal Utility,then

question 59

Multiple Choice

If a product has a high marginal utility,then

• A)Consumers will not purchase any more of the good.
• B)The demand curve will be downward-sloping.
• C)A consumer is willing to pay a high price for it.
• D)Consumers will also have a low total utility.

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Definitions:

Postdated Cheques

Cheques written with a future date and not valid until that date, often used to manage cash flows.

Stale-dated Cheques

Cheques that have not been cashed or deposited within a specified time, often six months, rendering them invalid.

Balance Per Books

The account balance according to the company's accounting records, not necessarily reflecting bank or third-party records.

Bank Reconciliation

A process that explains the difference between the bank balance shown in an organization's bank statement, as provided by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.