Multiple Choice
A consumer has maximized his or her utility by consuming
A) at the midpoint of the budget constraint line.
B) at the midpoint of the demand curve.
C) so that the total utility of all goods consumed is the same.
D) so that the ratio of marginal utility to price is the same for all goods consumed.
Correct Answer:
Verified
Correct Answer:
Verified
Q229: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q230: Explain the concept of consumer equilibrium.
Q231: If Pete enjoys his first pancake of
Q232: Roberta spends all of her income on
Q233: When Tom's income increases, his demand curve
Q235: Apples Tacos<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Apples Tacos
Q236: Fred spends all of his income on
Q237: Pizza CDs<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt="Pizza CDs
Q238: Mark's marginal utility from reading books is
Q239: The diamond-water paradox of value can be