If Px = Py, Then When the Consumer Maximizes Utility

question 85

Multiple Choice

If Px = Py, then when the consumer maximizes utility,

• A) X must equal Y.
• B) MU(X) must equal MU(Y).
• C) MU(X) may equal MU(Y), but it is not necessarily so.
• D) X and Y must be substitutes.

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Definitions:

Tabula Rasa

Tabula rasa is a philosophical concept suggesting that the human mind starts as a blank slate, with knowledge and character formed through experience.

Proximal Stimulus

The physical energy from a stimulus as it directly interacts with sensory receptors.

Retinal Image

The visual picture formed on the retina, the light-sensitive surface at the back of the eye, enabling sight.

Optic Nerve

A cranial nerve that transmits visual information from the retina to the brain.