Multiple Choice
When you buy something, you do so because of the satisfaction you expect to receive from having and using that good. Another term that can be used for satisfaction is
A) need.
B) purchasing power.
C) utility.
D) price elasticity.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q135: Suppose a consumer is at an optimum,
Q136: If the price of a good is
Q137: Using indifference curve analysis, an optimum is
Q138: The average demand curve slopes downward due
Q139: The information on a demand curve is
Q141: As an individual consumes more of a
Q142: If incomes fall, then<br>A) the budget constraint
Q143: If marginal utility is zero<br>A) total utility
Q144: A consumer is at an optimum when
Q145: The real-income effect shows that<br>A) a decrease