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1.Junelle and Delayma have identical preferences but Delima has a lower opportunity cost of time. We should expect that, compared to Junelle, Delayma: a.will have
1.Junelle and Delayma have identical preferences but Delima has a lower opportunity cost of time. We should expect that, compared to Junelle, Delayma:
a.will have a higher marginal utility of income
b. will have a higher total utility of income
c. will consume fewer time-intensive commodities
d. will consume more time-intensive commodities
2.Which is an explanation for why the demand curve is downsloping
a. normal goods
b. the law of supply
c. the law of diminishing marginal utility
d. the law of increasing opportunity cost
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