A change in the price of a good has two effects on the quantity consumed. What a

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A change in the price of a good has two effects on the quantity consumed. What are these effects? the income effect and the substitution effect the utility effect and the budget effect the total utility effect and marginal utility effect the consumption effect and expenditure effect If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the third candy bar is 25 utility units. 20 utility units. 5 utility units. unknown, as more information is needed to determine the answer. Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from telling applet, it would be a straight, upward-sloping line. a horizontal line. a straight, downward-sloping line. a curve that it negatively sloped at low levels of output and positively sloped at higher levels of output. If the market price is $25 in a perfectly competitive market, the marginal revenue from telling the fifth unit is Which of the following statements is true? Exports benefit trading countries because exports create jobs Imports do not benefit trading countries because they result in a loss of jobs. Each year China exports about 50 percent of its wheat crop and 40 percent of its rice crop Most of the leading exporting countries are large, high-income countries. All sectors of the U.S. economy are affected equally by international trade. The demand curse for an individual seller's product in perfect competition is

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36 question

A. income effect and substitution effect

as these two also impacts demand

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