The consumer optimum is the set of goods and services, subject to the limited income of the consumer, that
A) the consumer can afford to buy.
B) is characterized by zero marginal utility on each good and service.
C) maximizes the level of satisfaction for each consumer.
D) is characterized by increasing marginal utility.
Answer: C
You might also like to view...
Explain the economic costs of hyperinflation
What will be an ideal response?
Evaluate the following statement: "The gender pay gap provides evidence of widespread, severe, ongoing discrimination by employers and fellow workers."
A potential employee that dresses well for an interview is attempting to reduce asymmetric information by
A. looking more intelligent. B. signaling their type. C. mandating that information be shared. D. showing moral character.
The model of supply and demand is very good at predicting ______.
a. government policies for large and small markets b. government policies for just large markets c. changes in prices in large and small markets d. changes in quantities in large markets but not small ones