The Consumer Chooses the Bundle of Goods That Maximizes His

question 62

Multiple Choice

The consumer chooses the bundle of goods that maximizes his utility and spends all his income.Which of the following statements is correct?

• A)The marginal utilities of all goods are equal.
• B)Expenditures on all goods are equal.
• C)The addition to utility of the last unit of the good is equal across all goods.
• D)The addition to utility of the last unit of the good per dollar spent on the good is equal across all goods.

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Definitions:

Null

A value used in databases and programming to represent the absence of a value or a 'nothing' state.

Zero-Length

A term that refers to a string or text field that is allowed to have no characters, essentially being empty but not null.

Multivalued

Describes an attribute or field in a database that can hold multiple values in a single record.

Lookup List

A pre-defined list of values that can be selected within a form or database field.