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:

Dependent Variable

A variable in scientific research that is affected by changes in another variable, called the independent variable.

Exercise

Physical activities that are performed in order to improve health, maintain fitness, or gain physical strength.

Operational Definition

A clearly defined set of procedures or criteria for identifying and measuring variables or concepts in research.

Empirically Tested

Pertains to a method or statement that has been verified or investigated through observation and experiment.