A Consumer Maximizes Total Utility When All Available Income Is

question 3

Multiple Choice

A consumer maximizes total utility when all available income is spent and the

• A) marginal utility from each good is equal for all goods.
• B) marginal utility per dollar from each good is equal for all goods.
• C) dollars spent on the last unit of each good are equal for all goods.
• D) total utility from all goods purchased is equal.

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Definitions:

Annual Report

A comprehensive report on a company's activities, financial performance, and strategy, provided yearly to shareholders and the public.

Corporation

A legal entity that is separate and distinct from its owners, offering limited liability to its shareholders, and having the ability to own property, sue, and be sued.

State

An organized political community under one government; a nation or territory.

Promoters

Individuals or companies that undertake the preliminary activities of organizing or setting up a new business or venture.