Multiple Choice
Chuck and Barry have identical total utility schedules but Chuck has a much higher income.If each is maximizing his total utility,then
A) they will have equal total utilities.
B) Chuck will have lower total utility than Barry.
C) Chuck will have lower marginal utility than Barry for each normal good consumed.
D) Chuck will have higher marginal utility than Barry for each normal good consumed.
E) they will have equal marginal utilities for each normal good consumed.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Danny has $12 to spend on two
Q5: Behavioural economics<br>A)studies the activity of the human
Q6: Total utility is always<br>A)greater than marginal utility.<br>B)less
Q7: Marginal utility theory predicts that a rise
Q8: A behavioural economist will explain Tom's donation
Q10: Martha and Sarah have the same preferences,face
Q11: Billy likes candy and popcorn.Candy sells for
Q12: Consider Devon's total utility from snorkeling and
Q13: The three limitations on human rationality that
Q14: Samir consumes apples and bananas and is