An Individual Buys More of a Good at Lower Prices

question 163

Multiple Choice

An individual buys more of a good at lower prices than at higher prices because

• A)at lower prices, total utility is greater than price.
• B)at lower prices, marginal benefit is greater than price over a greater quantity of the good than at higher prices.
• C)at lower prices, marginal utility is greater than price over a greater quantity of the good than at higher prices.
• D)marginal benefit increases.
• E)marginal benefit falls more slowly than price.

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Definitions:

Congressional Oversight

The review, monitoring, and supervision of federal agencies, programs, activities, and policy implementation by the United States Congress.

Bureaucracy

An organizational structure within a government or private organization consisting of multiple levels and roles, responsible for the administration and execution of policies.

Congress

The national legislative body of the United States, consisting of two houses: the Senate and the House of Representatives.

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A branch of government responsible for implementing and enforcing laws, typically headed by a president or prime minister.