If the price of product x rises, then the resulting decline in the amount purchased will
a) necessarily increase the consumer's total utility from his total purchases.
b) reduce the marginal utility of the last unit consumed of this good.
c) increase the marginal utility of the last unit consumed of this good.
d) increase the total utility from purchases of this good

Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.