CLEP Economics Exam Prep

Category - Economics

Which of the following best describes the amount of a product that people will continue to buy at a given price?
  1. People will buy as many units as they can afford.
  2. People will buy another unit unless its benefit is zero.
  3. People will buy another unit as long as its benefit is positive.
  4. People will buy another unit as long as its benefit is greater than its cost.
Explanation
Answer: D - People will buy another unit as long as its benefit is greater than its cost.
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