ECONOMICS 203

University Of Maryland - University College

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ECONOMICS 203 Quiz 3_ECON 203 PRINCIPLES OF ECONOMETHICS Questions and Answers
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9

maart 2021

2020/2021

A+
Question 1 1 / 1 point The ________________ arises when a price changes because consumers have an incentive to consume less of the good with a relatively higher price and more of the good with a relatively lower price. a) preferences effect b) substitution effect c) income effect d) backward-bending supply curve Question 2 1 / 1 point Marginal utility can: a) increase positively, but not negatively b) be positive or negative, but not zero c) ...
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