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Demand curves slope downward because, other things held equal, a. An increase in a prod

 Demand curves slope downward because, other things held equal, 

a. An increase in a product’s price lowers MU.

b. A decrease in a product’s price lowers MU.

c. A decrease in a product’s price raises MU per dollar and makes consumers wish to purchase more units.

d. An increase in a product’s price raises MU per dollar and makes consumers wish to purchase more units.

4.  Jermaine spends his money on cucumbers and lettuce.  If the price of cucumbers falls, the MU per dollar of cucumbers will ______________ and Jermaine will _______________ cucumbers for lettuce.

a. Fall; substitute

b. Rise; substitute

c. Fall; supply

d. Rise; demand

5.  Tammy spends her money on lemonade and iced tea.  If the price of lemonade falls, it is as though her income __________________. 

a. increases

b. decreases

c. stays the same

Dec 05 2019 View more View Less

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