Description of this paper

attempts to maximize utility,




(Last Word) Theft and burglary;A);can be viewed as attempts to maximize utility, given certain marginal costs and marginal benefits.;B);are examples of irrational behavior.;C);are applications of the law of increasing opportunity costs.;D);are examples of noneconomic behavior.;If marginal utility is diminishing, total utility must also be declining.;A) True;B) False;In moving northeasterly from the origin we encounter indifference curves that reflect higher and higher levels of total utility.;A) True;B) False;It is possible for a consumer's indifference curves to intersect.;A) True;B) False;Marginal utility theory and indifference curve analysis are both consistent with the law of demand.;A) True;B) False


Paper#31080 | Written in 18-Jul-2015

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