As Long as Scarcity Exists

question 39

Multiple Choice

As long as scarcity exists,

• A)product prices play no role in utility maximization
• B)income plays no role in utility maximization
• C)income and product prices must both be considered in utility maximization
• D)consumers maximize utility by consuming all products until their marginal utility is zero
• E)product prices will be zero

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Definitions:

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