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Please do fast!! I will rate you good for sure!! Please send me typed answer!! 20% Fill in the blanks. In some of the blanks,
Please do fast!! I will rate you good for sure!! Please send me typed answer!!
20% Fill in the blanks. In some of the blanks, circle one of the two words given. (2 point each) increases, marginal utility a. The Law of diminishing marginal utility says that when decreases. b. When a good is under-produced, the market price is (higher or lower) than the market clearing price. c. The social welfare of an effective price floor is typically (over or under) - estimated and the social welfare of an effective price ceiling is typically (over or under) -estimated. and the slope of the indifference curve is d. The slope of the budget line equals to negative called the C. is the theory that tells us that at equilibrium the marginal utility per dollar spent across all goods are constant. f. When a good is neither normal nor inferior, when income increases, the individual consumption of the good will (increase or decrease or will not change). g. When the price of a good increases, real income (increase or decrease). The budget line will tilt (inwards or outwards)Step by Step Solution
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