At All Points on a Demand Curve, the I

question 62

Multiple Choice

At all points on a demand curve, the i. consumer's budget has been allocated to maximise total utility.
Ii) quantity is the quantity demanded at each price when total utility is maximised.
Iii) price represents the marginal benefit the consumer gets from an extra unit of a good.

• A) i only
• B) ii only
• C) i and ii
• D) i and iii
• E) i, ii, and iii

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Definitions:

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Responses or behaviors that are based on the belief that one's own ethnic group or culture is superior to others.

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