For a consumer to maximize utility, he will choose the
a. point where the slope of the budget line equals the slope of the indifference curve.
b. any point where the budget line and indifference curve intersect.
c. point where he gets the most of the good he prefers most.
d. point where the marginal rate of substitution is greatest.
e. the point where marginal utility is zero for both goods
a
Economics
You might also like to view...
Refer to the figure above. If a price control is imposed at $8, what is the new producer surplus in the market?
A) $20 B) $40 C) $60 D) $80
Economics
Which of the following is not included in M1 or M2?
A. currency in circulation outside of commercial banks B. checking account balances C. traveler's checks D. credit card balances
Economics