If a Commodity Is Inexpensive and Its Total Utility Is

question 35

Multiple Choice

If a commodity is inexpensive and its total utility is great,

• A)it is an inferior good.
• B)it is plentiful.
• C)its marginal utility is high.
• D)the ratio of price to marginal utility is very high.

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Definitions:

James And Lange

Theorists who proposed an emotion theory suggesting physiological arousal precedes the experience of emotion.

Cognitive Representations

Mental models or mental images that individuals form about objects, events, or people, based on their knowledge and experiences, which guide their interactions with the external world.

Physiological Responses

The body's automatic reactions to a stimulus, including changes in heart rate, breathing, and muscle tension, among others.

Emotions

Intricate mental conditions that encompass a trio of distinct elements: an individual's personal experience, a physical reaction, and an action or demonstrative response.