If a Consumer Is Choosing the Bundle of Goods That

question 86

Multiple Choice

If a consumer is choosing the bundle of goods that maximizes utility subject to a budget constraint,then

• A)the rate at which income affects the utility-maximizing choice is equal for all goods.
• B)the rate at which the consumer is willing to substitute between goods is equal to the market rate of exchange.
• C)the ratio of marginal utility to price is equal for all goods.
• D)both b and c
• E)all of the above

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Definitions:

Cerumen

The technical term for earwax, a substance produced by glands in the ear canal that protects the ears from dust, microorganisms, and other foreign particles.

Electronystagmography

A diagnostic test to record involuntary movements of the eye (nystagmus) caused by a condition or as a response to a test.

Auditory-evoked Response

An electrical potential in response to an auditory stimulus, used to assess hearing and brainstem function.

Tympanometry

A diagnostic test that measures the movement of the eardrum in response to changes in air pressure, indicating middle ear function.