A Person Is Said to Be in Consumer Equilibrium If

question 8

Multiple Choice

A person is said to be in consumer equilibrium if she

• A)equates marginal utilities per dollar spent.
• B)has diminishing marginal utility of money.
• C)purchases only normal goods.
• D)has an incentive to redirect her purchases.

---

Definitions:

Identifying Advantages And Disadvantages

the process of analyzing the positive aspects and negative aspects of a situation or decision.

Societal Problem

Issues and challenges that affect a significant number of people within a society, threatening its cohesion, wellbeing, and progress.

Innovation Process

A systematic approach involving the generation, development, and implementation of new ideas or products that create value.

Advantages And Disadvantages

The pros and cons or beneficial and detrimental aspects of a situation, decision, or object.