From the list on your right select the letter that contains the word, phrase, na

Question

From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left The additional usity from the 15! slice of pzza > the addisonal utility from the Marginal Utility (MU) The Law of Diminishing Marginal Ultility A budget constraint Equimarginal principle B. A subjective measure of the level of satisfaction one derives from consuming a C. All the possible combinations of goods and services that Ms. Addis' family can D Intertemporal budget constraint 2nd slice of pizza > the additional utility from the 3rd slice of pizza good or service buy with her after tax annual income of $64,000 E The total utility gained from consuming a good or service starts to decline F A consumer who spends all his income on these two goods can increase utility G Change in Total Utility and can be positive, zero, or negative diminish) immediately after the 1st unit EThe budget constraint line shifts to the left. Backward-bending segment of the labor supply curve Making choices for both the present and the future (across time) A customer chose to have a scoop of ice cream instead of a a'd cup ofH. A consumer can increase her by buying more of good 2 and less of good 1 Change in Quantity French fries good 2 to good 1. An increase in income I K An increase in the wage rate decreases hours of work An example of diminishing marginal utlity M Change in T otal Utility and is always positive Change in Quantity An increase in the price of one or both goods while income is constant

Explanation / Answer

A) Law of diminishing marginal utility.

B) Utility.

C) A budget constraint.

D) making choices for both the present and the future.

E) The law of diminishing marginal utility.

F) MU1/P1 < MU2/P2

G) Marginal utility.

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