A Consumer Maximizes Satisfaction at the Point Where His Valuation

question 144

Multiple Choice

A consumer maximizes satisfaction at the point where his valuation of good X, measured as the amount of good Y he would willingly give up to obtain an additional unit of X, equals:

• A) the magnitude of the slope of the indifference curve through that point.
• B) one over the magnitude of the slope of the indifference curve through that point.
• C) Px/Py
• D) Py/Px

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