When a consumer spends all of his or her income and consumes a bundle of goods such that the marginal utility per dollar from all goods is equal, then the
A) consumer's total utility is maximized.
B) consumer is in his or her consumption equilibrium.
C) marginal utilities for each good are maximized.
D) Both answers A and B are correct.
D
Economics
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Which of the following are government franchises?
a. Regional phone companies. b. The United States Postal Service. c. Electric utilities. d. All of the above.
Economics
In the long run in a perfectly competitive market:
A. firms earn zero economic profits. B. firms operate at an efficient scale. C. supply is perfectly elastic when all firms have the same cost structure. D. All of these are true.
Economics