Examlex

Solved

A Utility Maximizing Person Gets Marginal Utility from Consuming Their

question 39

True/False

A utility maximizing person gets marginal utility from consuming their last pencil and pen of 4 and 10 respectively.If pencils cost 10 cents a piece,the pens must cost 25 cents a piece.


Definitions:

Compliance

The act of adhering to laws, regulations, guidelines, and standards set by governmental bodies or industry organizations.

Administrative Law Judge

An official who presides over government agency hearings and makes decisions on disputes involving administrative law.

U.S. Supreme Court

The U.S. Supreme Court is the highest court in the United States, holding ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Fourth Branch of Government

Informally refers to groups that influence the three branches of government defined in the U.S. Constitution (executive, legislative, and judicial) such as the media, the people, or administrative agencies.

Related Questions