In Choosing Between Two Products, a Rational Consumer Will Choose

question 39

Multiple Choice

In choosing between two products, a rational consumer will choose the product that gives her the:

• A) greatest total utility regardless of cost.
• B) least marginal utility per dollar.
• C) highest cost per additional unit of utility.
• D) lowest cost per additional unit of utility.

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Definitions:

H1-B Provision

A provision of the U.S. immigration law that allows the annual entry of 65,000 high-skilled workers in “specialty occupations” such as science, R&D, and computer programming to work legally and continuously in the United States for six years.

High-Skilled Workers

High-skilled workers are individuals who have advanced qualifications, training, or expertise, making them capable of performing complex tasks.

Specialty Occupations

Jobs or professions that require the application of specialized knowledge, often necessitating a higher degree of education or experience.

Population Growth

The increase in the number of individuals in a population, often measured by the percentage increase per year.