As long as the marginal utilities per dollar obtained from the last unit of all products consumed are the same, _____
a. the consumer is in equilibrium and will not reallocate income
b. the consumer is not in equilibrium and will reallocate income
c. the consumer is most likely operating a budget deficit
d. the consumer is not maximizing utility
e. the government will recognize this as an intolerable disequilibrium and will most likely intervene by imposing a tax and reallocate the consumer's income
a
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Drawing conclusions from international comparisons of GDP are difficult to assess because
A) GDP is understated in poorer countries because much of the work that people do is not provided in markets. B) GDP cannot be adequately evaluated as a measure of people's welfare or well-being. C) without adjusting for purchasing power parity, GDP comparisons might very well be meaningless. D) all the above reasons hold true.
________: the change in saving with respect to a change in disposable income
Fill in the blank(s) with correct word