Marginal Utility Theory Predicts That

question 145

Multiple Choice

Marginal utility theory predicts that

• A) when the price of a good rises, the quantity demanded of that good decreases.
• B) if the price of one good rises, the demand for a substitute good increases.
• C) if income increases, the demand for a normal good increases.
• D) All of the above answers are correct because all are predictions of marginal utility theory.

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Dependability

The quality of being reliable, trustworthy, and consistently performing or meeting expectations.

Hackman

Refers to J. Richard Hackman, an influential American psychologist known for his work on team dynamics, leadership, and organizational behavior.

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