Individuals Maximize Utility in Allocating Their Time Only When

question 128

Multiple Choice

Individuals maximize utility in allocating their time only when

• A)any change in their use of time reduces their total satisfaction
• B)they consciously and carefully weigh the expected marginal utilities per unit
• C)they consciously and carefully weigh the actual marginal utilities per unit of time spent in each activity
• D)the expected average utility of each activity is equal
• E)people make a concerted effort to measure satisfaction

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Definitions:

Receptor Sites

Specific locations on the surface of a cell or within a cell where molecules, such as hormones or neurotransmitters, can bind to influence cellular function.

Narcotics

A class of drugs that dull the senses, relieve pain, and can induce sleep, often used medically for pain relief but also susceptible to abuse.

Chemical Structures

These are the arrangements of atoms in a molecule and the chemical bonds that hold the atoms together.

Axon

is a long, slender projection of a nerve cell that conducts electrical impulses away from the neuron's cell body.