The demand will be _______________ if the consumer has _________ substitute goods to choose from

The most common pattern for marginal utility is ____________________.

Total demand is a function of three separate situations, which can be described as ___________.

When consumer demandis sensitive to price changes, _____ occurs.

With _____________ demand the price changes, but the amount purchased remains the same.

You are analyzing a trade-off when you compare the _____and _____ of doing something.

Total amount of satisfaction derived from the consumption of a certain number of goods or services is known as

Substitution effect is when a consumer’s switch to another similar good when the _____ of the preferred good increases

Substitution effect is when a consumer’s switch to another similar good when the _____ of the preferred good increases

Extra satisfaction generated by consumption of an additional good during a specific time period is called

Income effect occurs because of a consumer’s ____ purchasing power.