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.

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Definitions:

State Societies

Society that is organized and governed by a centralized government, often characterized by stratification and complex social structures.

Membership Basis

The criteria or foundation upon which individuals are considered members of a group, organization, or community.

Organized Category

A systematic arrangement of elements or entities into defined classes or groups based on set criteria.

Flexibility

The ability to adapt to new, different, or changing requirements and situations.