Multiple Choice
If a consumer is maximizing his/her utility for a given income, the:
A) marginal utility for every good purchased would be the same.
B) marginal utility per dollar spent for all goods would be the same.
C) marginal utility per dollar for all goods would be at a maximum.
D) total expenditure on each good would be the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: Use the idea of interpersonal comparisons of
Q17: Exhibit 6-3 Marginal utility data for goods
Q18: Exhibit 6-2 Total utility for hamburgers, fries,
Q19: If marginal utility is positive, then total
Q20: As more Big Macs are consumed each
Q22: In the theory of consumer choice, when
Q23: If total utility from consuming two cups
Q24: The demand curve is downward-sloping because of
Q25: Consumer equilibrium exists when:<br>A) the marginal utility
Q26: Greg spends his entire budget on two