If Utility Is Not Maximized, Then

question 192

Multiple Choice

If utility is not maximized, then:

• A) some change in consumption will increase satisfaction.
• B) no change in consumption will increase utility.
• C) only a change in income will increase utility.
• D) only a change in price will increase utility.
• E) the principle of diminishing marginal utility does not hold.

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Definitions:

Common Types

refers to the usual or most frequently encountered categories within a broader group or category.

Retreatists

Individuals who reject both the cultural goals and the institutionalized means of achieving them, often withdrawing from mainstream society.

Conventional

Based on or in accordance with what is generally done or believed, adhering to established norms or patterns.

Strain Theory

The assertion that people experience strain when culturally defined goals cannot be met through socially approved means.