Multiple Choice
In order to reach consumer equilibrium, which of the following consumption choices must be made?
A) The total utility per dollar spent on Good X must equal the total utility per dollar spent on Good Y.
B) The total utility of Good X must equal the total utility of Good Y.
C) The marginal utility of Good X must equal the marginal utility of Good Y.
D) The marginal utility per dollar spent on Good X must equal the marginal utility per dollar spent on Good Y.
Correct Answer:
Verified
Correct Answer:
Verified
Q32: Admission to Disney World is an example
Q36: If Ming is willing to pay $75
Q58: A consumer will reach consumer equilibrium if
Q59: What effect would a tax equal to
Q60: Which of the following is an example
Q64: Consumer surplus increases whenever the price of
Q64: Which of the following is an example
Q65: Which of the following best describes goods
Q66: Positive externalities lead to an underallocation of
Q167: What distinguishes public goods from private goods?<br>