A Consumer Maximizes His or Her Utility When Expenditures Are

question 67

Multiple Choice

A consumer maximizes his or her utility when expenditures are allocated such that

• A)the utility received per dollar spent on the last unit of each good is equal.
• B)the marginal utility is zero for each good consumed utility.
• C)the utility received from the last unit of each good is equal.
• D)the total number of dollars spent on each good is equal.
• E)the total utility from each good is equal.

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Definitions:

Counter Currents

Oceanographic phenomena where adjacent slivers of water move in opposite directions, significantly affecting climate and marine life.

Coriolis Effect

The apparent deflection of moving objects, like air or ocean currents, to the right in the northern hemisphere and to the left in the southern hemisphere, due to Earth's rotation.

Gulf Stream

A strong, warm ocean current that originates in the Gulf of Mexico, flowing into the Atlantic Ocean, influencing climate patterns in Europe and North America.

Atlantic Ocean

The second-largest of the world's oceans, bounded by the Americas to the west and Europe and Africa to the east.