Multiple Choice
If Alice's marginal utility per dollar spent is higher on magazines than on baseball tickets and she has spent all of her income, then which of the following is true?
A) She should buy more magazines and fewer baseball tickets.
B) She must not be spending all of her budget.
C) Her total utility is as high as possible.
D) She is getting the highest utility from baseball tickets and magazines, given her budget.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: Use the table Jackson's Total Utility for
Q7: A consumer's objective is to maximize _
Q8: A _ is the set of points
Q9: The idea that there are limits to
Q10: If a good is an inferior good
Q12: If a good is a normal good
Q13: What is the difference between bounded rationality
Q14: When the price of apples is $2
Q15: A TV streaming service offers three different
Q16: All else equal, when the price of