Homework Help: Economic

Posted by Candace on Wednesday, March 31, 2010 at 6:11pm.

1.Diminishing marginal utility refers to the fact that
a. demand declines as income falls.
b. additional satisfaction declines as additional units of an item are consumed.
c. people have unlimited needs.
d. in equilibrium, supply equals demand.

2. Generally, the more substitutes there are for a good, the
a. more elastic the demand. c. more complements there are.
b. less valuable it is. d. less prices change.
1.A 2 A.

Economic - SraJMcGin, Wednesday, March 31, 2010 at 6:13pm
You might begin right here:

http://www.google.com/search?q=explain+diminishing+marginal+utility&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Sra
Economic - Candace, Wednesday, March 31, 2010 at 6:19pm
Is it b?
Economic - Candace, Wednesday, March 31, 2010 at 6:21pm
1. B, 2. A
Economic - Ms. Sue, Wednesday, March 31, 2010 at 6:28pm
1. B, 2. A

Correct

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