As an individual consumes more of a product within a given

Reference no: EM13246086

1. Marginal utility is the ________ satisfaction gained by consuming ________ of a good.

2. For inferior goods, an increase in income will cause the

3. Kathleen likes avocado and crab dip. After eating avocado and crab dip with four crackers, she switches to cheese with crackers. We can conclude that

4. As an individual consumes more of a product within a given period of time, it is likely that each additional unit consumed will yield

5. The more time that elapses, the

6. Suppose the demand for books goes down when the price of video games goes down. We can say that these two goods are

7. A price change would have the largest income effect on a

8. When there are more substitutes for a product, the ________ for the product is ________.

9. According to the law of demand there is ________ relationship between price and quantity demanded.

10. Which of the following will NOT cause a shift in the demand curve for compact discs?

Reference no: EM13246086

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