Multiple Choice
While purchasing diamonds and water,a consumer would maximize utility by _____
A) dividing expenditure equally between the two goods.
B) equating the marginal utilities of each good.
C) equating the average utilities of each good.
D) equating the total utility of per dollar spent on each good.
E) equating the marginal utility per dollar spent on each good.
Correct Answer:
Verified
Correct Answer:
Verified
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Q15: Exhibit 6.10<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1208/.jpg" alt="Exhibit 6.10
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