A local clothing store is having a sale in which if you purchase one men's suit at full price, you can then purchase a second suit at half price. Russell purchases only one suit at the sale. The best explanation for why he would not purchase a second suit, even though the price is lower, is: O the increasing opportunity cost of producing suits for the manufacturer. the law of diminishing marginal utility. O the increasing marginal cost of purchasing the second suit. O the law of supply.

A local clothing store is having a sale in which if you purchase one men's suit at full price, you can then purchase a second suit at half price. Russell purchases only one suit at the sale. The best explanation for why he would not purchase a second suit, even though the price is lower, is: O the increasing opportunity cost of producing suits for the manufacturer. the law of diminishing marginal utility. O the increasing marginal cost of purchasing the second suit. O the law of supply.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

answer only first quation

A local clothing store is having a sale in which if you purchase one men's suit at full price, you can then purchase a second suit at half
price. Russell purchases only one suit at the sale. The best explanation for why he would not purchase a second suit, even though the
price is lower, is:
O the increasing opportunity cost of producing suits for the manufacturer.
the law of diminishing marginal utility.
O the increasing marginal cost of purchasing the second suit.
O the law of supply.
Which of the following is a characteristic of corporations?
O Their stockholders are not the legal owners of the firm.
O Their ownership cannot be easily transferred.
O Their owners' liability is limited to the amount of their investment in a firm.
They do not suffer from principal-agent problems.
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