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In economics, utility is defined as

baileymeredith

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In economics, utility is defined as

Question 1.

When quantity supplied is NOT very responsive to a change in price, supply is

• elastic.

• inelastic.

• income sensitive.

• unit-elastic.

Question 2.

In economics, utility is defined as

• the usefulness of a good or service.

• the objective measure of the desirability of a good or service.

• the utilitarian value of a good or service.

• the want-satisfying power of a good or service.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 66 times

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Nikki_LYNN

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More solutions for this book are available here

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baileymeredith Author

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Brilliant

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