Answer:
consumption of tea will <u>increase</u> , and marginal utility of coffee will <u>increase</u>
Explanation:
As Consumer consumes both tea & coffee, they are substitutes goods (which can be inter change-ably used by consumer).
Substitute Goods' price & quantity are inversely related. Such because -
- Price fall of a good makes it relatively cheaper & increases its quantity demanded, decreases other good's demand.
- Price fall of a good makes it relatively expensive & decreases its quantity demanded, increases other good's demand
So: Tea & Coffee being substitutes - If price of coffee rise, its own quantity demanded decreases & tea demand increases.
Coffee quantity demanded decrease means Marginal Utility of coffee will increase, as - MU decreases with more consumption quantity & it increases with less quantity consumption [as per Law of Diminishing Marginal Utility].
Answer:
A
Explanation:
The president has the power to either reject or approve bills passed by Congress. Before a bill becomes a law, the president has 10 days to either approve it by signing it into law, or reject it through a veto. Typically, when vetoing a bill the president returns it to Congress with an accompanying message explaining why it …
Answer: D. An economic system characterized by voluntary allocation
Explanation: Socialism promotes or encourages the need for production, distribution and exchange to be run by community at large instead of only the government running the affairs of the community.
Socialism is a shared responsibility for the production and distribution of resouces between individuals in the community or a group. It is the economic and political theory that encourages individuals to do things collectively for the common goal of the society.
One action that they could do is to change the constitution: pass an amendment! A disadvantage of this approach is that it will have to be ratified by the states, but the advantage is that they will never face this speficic it's an problem again.
Another action is changing the bill, taking out the problematic part. The advantage is that it's quicker than the first option, but the disadvantage is that they will have to give up on parts of the bill, which might have been very important.
