Multiple Choice
In order to maximize utility, a consumer should allocate money income so that
A) the marginal utility of the last unit of each product consumed is greater than the total utility of each product consumed.
B) the total utility derived from each product consumed is the same.
C) the marginal utility obtained from the last dollar spent on each product is the same.
D) the elasticity of demand on all products purchased is the same.
Correct Answer:

Verified
Correct Answer:
Verified
Q413: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above
Q414: According to the text, can we conclude
Q415: If marginal utility is zero, total utility
Q416: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q417: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q419: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q420: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q421: When total utility is at a maximum<br>A)
Q422: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -According to the
Q423: When the total utility from consuming one