Practice Quiz

CLEP Economics Exam Prep

Category - Economics

Start a Study Session Sign up for Question of the Day
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.
Previous Next
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz