If There Is No Budget Constraint,utility Maximization Is Achieved When

question 50

True/False

If there is no budget constraint,utility maximization is achieved when marginal utility is zero.

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Definitions:

Galveston

A coastal city in Texas, known for its historic significance, including the Galveston Hurricane of 1900, one of the deadliest natural disasters in US history.

Natural Disaster

Catastrophic events caused by nature such as earthquakes, hurricanes, floods, or tornadoes, which can result in significant damage and loss of life.

1900

A year that marks the beginning of the 20th century, noted for various historical, cultural, and technological developments around the world.