At the Utility Maximizing Equilibrium for Two Goods, X and Y

question 224

Multiple Choice

At the utility maximizing equilibrium for two goods, X and Y, which of the following must be true?

• A) The marginal utility per dollar spent on X will exceed the marginal utility per dollar spent on Y.
• B) The total expenditure will be the same for each good.
• C) The marginal utility per dollar from X equals the marginal utility per dollar from Y.
• D) The marginal utility will be the same for each good.

---

Definitions:

Conflict Theorists

Sociologists who view social life as a competition, emphasizing the role of coercion and power in producing social order, often focusing on class, race, and gender struggles.

Davis-Moore Thesis

A theory suggesting that social stratification is beneficial to society because it ensures that the most capable individuals occupy the most important roles.

Status Symbols

Material indicators that demonstrate a person’s social and economic position.

Social Mobility

The movement of individuals or groups within or between social strata in a society.