As a person continues to consume more of an item, s/he will get less additional satisfaction (utility).

The economic advisor of a large tire store proposes the demand function d(p)equalsstartfraction 1900 over p minus 40 endfraction , where d(p) is the number of tires of one brand and size that can be sold in one day at price p. answer parts (a) through (e) below. a. recalling that the demand must be positive, what is the domain of this function? the domain consists of all possible values of ▼ for which ▼ p d(p) ▼ does not exist. is positive. is zero. is negative. exists.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.