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A Consumer Was at an Optimum

question 254

Multiple Choice

A consumer was at an optimum. She then discovers that the marginal utility per dollar spent on food is more than the marginal utility per dollar spent on gasoline. She knows then that

Definitions:

Being Whipped

Historically, refers to the physical punishment where individuals were beaten with a whip, often used as a form of discipline or torture, particularly against slaves.

Cotton Field

A large area of land used for cultivating cotton plants.

Plantation Masters

Owners or operators of large agricultural estates, especially in the American South, where enslaved people were often forced to work before the Civil War.

Threat Of Sale

The risk or possibility of being sold, often used in the context of property, businesses, or slaves facing auction.