When the Price of a Commodity Falls, We Can Expect

question 9

Multiple Choice

When the price of a commodity falls, we can expect

• A)total utility will fall.
• B)marginal utility of the last unit purchased will fall.
• C)marginal utility of the last unit purchased will rise.
• D)purchases will fall because of a change in marginal utility.

---

Definitions:

Inspiratory Reserve Volume (IRV)

The additional air that can be forcefully inhaled after a normal inhalation.

Expiratory Reserve Volume (ERV)

The additional amount of air that can be forcibly exhaled after the completion of a normal, quiet exhalation.

Inspiratory Capacity (IC)

The maximum amount of air that can be inhaled after a normal exhalation.

Tidal Volume (TV)

The amount of air that is inhaled or exhaled during normal breathing at rest.