Multiple Choice
Any point on the budget constraint
A) Gives the consumer the highest level of utility.
B) Represent a combination of two goods that are affordable.
C) Represents combinations of two goods that yield the same utility.
D) Reflects the price of one good divided by the price of another good.
Correct Answer:
Verified
Correct Answer:
Verified
Q44: Use the indifference curves and the budget
Q45: A consumer maximizes total utility from a
Q46: An indifference curve shows the<br>A)Maximum utility that
Q47: If the marginal utility per dollar spent
Q48: Sellers can gain profits from price discrimination
Q50: If there is no budget constraint,utility maximization
Q51: See Figure 19.1.Lu's consumer surplus is equal
Q52: Most goods can yield<br>A)Only positive marginal utility.<br>B)Both
Q53: Refer to Figure 19.1.The total consumer surplus
Q54: The law of diminishing marginal utility states