Suppose a consumer is spending his or her entire budget. In order to obtain the most satisfaction from his or her purchases, all goods should:
a. provide the same marginal utility per dollar.
b. be consumed in equal quantities.
c. have identical marginal utilities.
d. give the consumer matching amounts of total utility.
a
Economics
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Which of the following is NOT a reason why some industries are oligopolies?
A) economies of scale B) barriers to entry C) strategic independence D) mergers
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The market and public sector are similar in that
A) there is competition among the participants in both sectors. B) the resources used in both sectors are scarce. C) the participants in both sectors react to incentives. D) All of the above are true.
Economics