When Ramona is in consumer equilibrium
A) her total utilities of all goods are equal.
B) she is maximizing her utility, given her income and the prices of goods and services.
C) her total utility per dollar spent is equal for all goods.
D) any change in prices would make her worse off.
B
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What will be an ideal response?
Jeremy is thinking of starting up a small business selling NASCAR memorabilia. He is considering setting up his business as a corporation. What is one advantage to Jeremy of setting up his business as a corporation?
A) By setting up the business as a corporation, Jeremy would have both ownership and control over the business. B) By setting up the business as a corporation, Jeremy would not face double taxation. C) By setting up the business as a corporation, Jeremy would have the ability to share risk with shareholders. D) All of the above would be advantages of setting up his business as a corporation.